Did you happen to catch wind of this new write-up at the business consultancy website BPlans? It’s called The 8 Most Common Small Business Accounting Mistakes and we thought that it would make for a great early year reading for business owners?
They share some really interesting mistakes here. This one’s particularly thought-provoking:
Do you handle all of your bookkeeping and accounting in-house? When you run an extremely small business with limited revenue, it can be tempting to lower costs by handling your accounting on your own.
While taking care of your accounting yourself might seem like a great way to save money, it could actually be costing your business money. An accountant will have greater costs than managing your accounts by yourself, but will also save you money.
From tax deductions that you didn’t know about to errors that are difficult to see in your own company but easy for an expert to notice, managing all of your accounting in-house causes you to miss an opportunity to save money.
Give the rest of the article a read at the link below to learn the rest of the