Let's face it, running a small business is hard work. You can make it a bit easier on yourself by avoiding these 5 common bookkeeping mistakes.
It's really easy to get behind on your bills, especially in the beginning stages of a small business. In product heavy businesses you need to spend a lot of money, often before the first sale ever gets made. This can sometimes get your payables (the money you owe others) to uncomfortably high levels. When it's time to start paying them down, people use several methods. Sort them by age or pay off the small ones first to get quick wins. Maybe you pay the squeaky wheels first, or only pay the statements that show up on blue paper. The big mistake some owners make is to lump the bank and the government in with the company that sold you business cards. Maybe the phone company will wait an extra month, and not really hold it against you. Consistently paying your loan or