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iBalbance provides tips on how to avoid

5 Common Bookkeeping Mistakes in small businesses

Hey there, fellow entrepreneurs!
We get it—juggling the financial side of your business can sometimes feel like
trying to ride a unicycle while juggling flaming torches. But fear not! Here
are five common bookkeeping blunders to watch out for, sprinkled with a dash of

  1. The Personal-Biz Financetastrophy:Picture this: Your business account and your personal account are doing the cha-cha together in a financial mash-up. Not ideal! Keep ’em separated like a strict parent chaperoning a middle school dance. Trust us, it’ll save you from a headache down the line.
  2. The Forgetful Freddie:
    Ever play hide and seek with your expenses? Yeah, your wallet doesn’t find
    it amusing. Keep track of every dollar and cent like a detective hunting
    down clues. Your financial statements will thank you, and you’ll avoid
    those “Where did all my money go?” moments.
  3. The Reconciliation Rumble:
    It’s like the Wild West out there—except instead of cowboys, it’s your
    bank statements and credit card bills having a showdown. Wrangle those
    numbers into submission with regular reconciliations. Yee-haw for
    financial accuracy!
  4. The Paperwork Party Pooper: Who needs paperwork when you’ve got… well, pretty
    much anything else? Turns out, the IRS isn’t a fan of that mindset. Keep
    those receipts and invoices like prized possessions. They’re your golden
    tickets to financial accountability!
  5. The Tax-Time Tangle:
    April 15th looming on the horizon like a storm cloud? Don’t let it rain on
    your parade! Stay ahead of the tax game by staying organized and informed.
    Trust us, the taxman is less scary when you’ve got your ducks (or
    receipts) in a row.

Avoiding these bookkeeping booboos might not make you the star of the next blockbuster, but hey, financial stability is pretty darn cool too. Keep those numbers in check, and your business will be soaring like a superhero in no time!


iBalanced is available to answer your bookkeeping questions and help you with business finance services. Contact Toni Zalewski for a consultation today. https://www.i-balanced.com/

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