Common Accounting Mistakes Small Businesses Make and How to Avoid Them
Running a small business is a rewarding venture, but it comes with its fair share of challenges. One area that can be particularly tricky is accounting. Even minor accounting errors can have significant repercussions, potentially affecting your cash flow, tax obligations, and overall financial health. Here, we’ll explore some common accounting mistakes small businesses make and offer tips on how to avoid them. 1. Not Separating Personal and Business Finances Mistake: Many small business owners