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5 Key Benefits of Monthly Accounting for Startups

5 Key Benefits of Monthly Accounting for Startups

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The feeling is all too familiar to startup founders – you’re buried in growing your business when tax season suddenly hits. Then comes the mad rush to organize months of financial records.

Most founders push accounting to the bottom of their priority list while handling other urgent business needs. But waiting until year-end to deal with finances can get pricey and make you miss valuable opportunities. Add ... or [...]  Read More

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Common Accounting Mistakes That Small Businesses Should Avoid

5 Common Accounting Mistakes That Small Businesses Should Avoid in 2024

Running a small business often feels like balancing plates on sticks. One wrong move, and things can come crashing down, especially when it comes to accounting. Did you know that 64% of business owners attempt to manage their bookkeeping on their own? This often leads to errors that can be costly in time, resources, and potential legal troubles. Today, I’ll walk you through five common accounting mistakes that small businesses frequently make and provide guidance on how to avoid them.

1. Ignoring Regular Reconciliation

One of the biggest small business accounting errors to avoid is ignoring regular reconciliation. By failing to regularly reconcile your accounts, you risk undetected errors, potential fraud, and major discrepancies in your financial records. Regular reconciliation acts like a financial check-up for your business, catching issues before they spiral out of control. Add ... or [...]  Read More

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