Posts Tagged "bank accounts"

Bookkeeping Mistake 7: Not reconciling bank accounts

Posted by on Jan 16, 2014 in Accounting, Bookkeeping | 0 comments

This is part of a series of the Top 10 Bookkeeping Mistakes Small Businesses make.  To read the others, click here. Running your own business affects your life as a whole – and it especially affects your finances, and your bookkeeping. Reconciling your business’s books with your business bank statement(s) every month is one of the most basic accounting duties.  Whether you do it yourself, or your bookkeeper takes care of it, or your accountant, it’s absolutely critical that it is done regularly. Although it can sound complex, bank account reconciliation is actually relatively simple.  Just compare your business accounts with your bank statement, and make...

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Bookkeeping Mistake 5: Not separating business and personal bank transactions

Posted by on Nov 4, 2013 in Accounting, Bookkeeping | 0 comments

This is part of a series of the Top 10 Bookkeeping Mistakes Small Businesses make.  To read the others, click here. Running your own business affects your life as a whole – and it especially affects your finances, and your bookkeeping. As a small business owner, it may feel almost impossible to separate your business and personal life.  These days especially, with mobile phones and tablets and wi-fi everywhere, you likely feel (and are) constantly connected to your customers and prospects. This can be a good thing in some ways – but when it comes to your bookkeeping, it can be a complete nightmare.  Mixing your business and personal finances – bank accounts,...

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