Many small businesses do their own bookkeeping. And why not? Initially, when your business is small, the bookkeeping is quite simple.
But what are the things you should look out for when you’re managing your own books?
Ensure Your Bank Accounts and Credit Cards Are Reconciled
This may seem foundational, but in my experience, this critical step is often ignored. It’s one of those important, but not urgent tasks that always seems to fall to the bottom of the to-do list. The purpose of a bank reconciliation is to ensure that all of the transactions on the bank statements are captured. This is a critical step to ensure accuracy of these bank accounts and credit cards.
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