Avoid Bookkeeping Pitfalls

While you still may be in a slow month, keep evaluating your systems and processes. When it comes to bookkeeping, everyone is in a different situation whether it's DIY or outsourcing. Find out the pitfalls to avoid based on your situation.

Which category do you fit into?

You do your own bookkeeping: Are you having someone double-check your work to make sure it's accurate? Do you have the time to be thorough and educate yourself?

You've hired a bookkeeping company: Make sure they are keeping track of all the changing technology and know your industry..

You have a CPA do your bookkeeping: Is this costing you more? Who is checking your CPA's work prior to going to the IRS for tax returns? Tip: Having a separate bookkeeping company and CPA ensures accuracy, with both parties checking each other's work.

You have a well-meaning friend or relative do your bookkeeping: What the numbers mean on a piece of technology like Shopify, etc., and new and ever-changing technologies require a lot to keep up with (which is why there is value in a team). Being close friends with your bookkeeper can potentially hurt feelings if something goes wrong.

Now is a great time to learn more about bookkeeping, how to run a business, and further your education with our online membership program. Learn about Boutique School. Need to outsource your bookkeeping? We can lift that burden and give you peace of mind knowing things are done right. Get a free estimate here.