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Six Common Bookkeeping Mistakes Made By Small Businesses As the owner of a relatively new and small business, we do most of the things ourselves including the bookkeeping. Focusing on other things can be tempting and if you fall prey to the temptation, you may end up procrastinating your bookkeeping until the last minute. This can likely cause problems. Therefore, we present here six of the most common bookkeeping mistakes that small and new businesses make. 1.Procrastination Putting off bookkeeping for the day soon becomes putting it off for next week and then for the next month. You don’t even realize and pretty soon VAT and tax deadlines head near and you are, obviously, not ready. What is more important is that you won’t have a clear idea of what’s happening in your business. What, then, is the way out? Well, we’d suggest that you take out some time every day or every week to update your financial information in your diary. Also, while doing so, it is important for you to under
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