4 Mistakes Related To Accounting & Bookkeeping Every Business Should Avoid

1
4 Mistakes Related To Accounting Bookkeeping
Every Business Should Avoid
2

• Bookkeeping, while it sounds simple can be a bib
  complex work with all the accounts and financial
  numbers involved. Managing and keeping the
  finances in proper order is as useful for a
  business as anything else. So, even a small
  mistake in finances and accounts can lead to
  bigger troubles.

3
(No Transcript)
4

• Accounting errors involve a lot of things, such
  as fundamental mathematical errors, failing to
  document expenses and incomes or entering the
  wrong data into the system. Here is a list of
  accounting and bookkeeping mistakes that must be
  avoided

5
1. Ineffectual Planning

• Accounting errors involve a lot of things, such
  as fundamental mathematical errors, failing to
  document expenses and incomes or entering the
  wrong data into the system. Here is a list of
  accounting and bookkeeping mistakes that must be
  avoided

6
2. Calculation Errors

• Majority of the times, professionals help you to
  resolve queries related to mathematical mistakes
  within your respective accounting. This is
  something which should not occur on a regular
  basis. Although, you cant always count on other
  agencies to rectify the errors, make sure that
  you shook hands with the right accountant
  resource. You can always take the help of
  bookkeeping services for small business. These
  services help you record all your financial data
  in one place and accurately.

7
3. Keep Finance Books Updated

• Constant delaying of bills can create a higher
  probability of extreme perils, such as- increased
  debts, bounced cheques, and invoices that may
  never get paid off. Therefore, it is necessary
  that business accountants you employ have the
  ample knowledge of keeping the books updated.
  Without adequate planning, you may be subjected
  to penalties and can miss significant financial
  opportunities as your books will not define your
  current outlook.

8
(No Transcript)
9
4. Payroll Services

• If your company hasnt paid payroll tax from
  previous periods, then you may also need to pay
  interest on that amount. It can lead to an
  unplanned rush of cash that most businesses have
  not prepared for. It can adversely affect a
  business's capability to pay for the stock and
  even wages, which can then confine its
  performance and ultimately profit of the company.
  To avoid such situations, you must hire a
  professional service provider for payroll
  services in Australia, or wherever your business
  is located.

10

• Regardless of the size of a firm, small business
  bookkeeping services are essential for every
  firm. In many firms, this process is neglected
  which adversely affects the company. Many
  businesses fail to get success due to financial
  mismanagement while others have unstable or no
  accounting records or books on hand.

11
(No Transcript)
12
Contact Us

• 02 8814 6311
• admin_at_geekbooks.com.au
• www.geekbooks.com.au

13
thank You