Some common bookkeeping mistakes can cause big problems if not handled properly. One major mistake is mixing personal and business expenses, which makes it hard to track finances clearly. Many small business owners also forget to record small transactions, and over time this adds up. Another mistake is not keeping receipts or proper records, which can create issues during tax time. Delaying data entry is also risky because it can lead to errors and missed payments. Some people rely only on manual systems instead of using reliable accounting software. Not reconciling bank statements regularly is another common error. Avoiding these mistakes helps keep accounts accurate and makes financial management much smoother.
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