Here are 9 common mistakes that could be costing your business money.
1. Mixing business and personal expenses
2. Not reconciling bank accounts
3. Thinking net profit equals cash flow
4. Failing to take your books seriously
5. Not having a budget
6. Wasting time
7. Not looking at Financial Statements
8. Not admitting you don’t know what you don’t know
9. Trying to DIY
If any of these resonate with you, pick one to start with. Pick the one that will have the biggest impact on your business. Don’t overwhelm yourself with figuring out how to fix it all at once!
If you choose to hire a bookkeeper, find one that works in your industry. They’ll give you the most bang for your buck and know the ins and outs of how your money should look at your stage in business.
Meet The Author:
I am Jessica, a Bookkeeping Professional and CEO of Wholesome Bookkeeping. I help women-owned, service-based businesses get their taxes tied up in a neat little bow, so they can use their brain power elsewhere. I have over 5 years experience in the finance realm and firmly believe that managing and understanding your finances is the way to a profitable and sustainable business that will support your personal life. I am Mama to two energetic kids, I love coffee and pancakes, and enjoy exploring the mountains with the family anytime we get a chance.
If you want to reach out to Jessica you can find here –> HERE <–