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Four accounting mistakes that you should avoid, by small business accountants in Melbourne

Accounting mistakes have the ability to cause minimal or great damage to a business, sadly these errors are quite common. Our small business accountants in Melbourne will tell you which 4 common accounting mistakes to avoid.

Melbourne’s small business accountants advise you to avoid these 4 common mistakes:

1. Not keeping track of your receivables – in the long run if you don’t record your receivables, when it comes to tax time there will be a whole lot of data that doesn’t match up
2. Throwing away expense receipts – many business owners make the mistake of throwing out all of their expense receipts and just like above, when it comes to tax time, you’ll be wondering where all your money went. Possibly ruining your chance on getting a tax return
3. Not registering cash expenses – it is essential for all owners to keep up with any expense, cash expenses are almost never registered and are not registered in your accounts, which is not good
4. Substituting your professional accountant for an amateur

We hope that your small business’ accounts are a lot better and you avoid these mistakes.

Be sure to contact our small business accountants in Melbourne with any enquiries.

 
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