Rockel Bookkeeping

Martin County, Florida Bookkeeping Services

6 Potential Pitfalls Of Just “Winging It”

6 Potential Pitfalls Of Just “Winging It”

Picture this…How would you feel if a surgeon told you, “I don’t need to do any tests or scans before I do your surgery, I’m just going to wing it”? You’d immediately get up, leave that office and never come back. So why would you do that with one of the most important parts of your business?

6 Potential Pitfalls of just “Winging It”:

1.     You don’t really know where your money is coming from or where it’s going

2.     You could miss out on important tax deductions that could save you money during tax time

3.     You don’t have someone who works on your books weekly or monthly that can give you proactive suggestions and keep you accountable

4.     There could be personal expenses mixed in with business, which could make you responsible for your company’s debts

5.     If you’re doing the books yourself, you may be accidentally skipping steps like making monthly adjustments for loan payments or prepaid expenses

6.     Income may be over-reported and expenses under-reported, or vice versa, which could cause problems if you ever need to apply for a loan

      Leave your books to a professional or risk leaving money on the table!

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