OllinBalanceAdvisory’s Post

Doing your own bookkeeping? Be aware of these common errors that can significantly impact your balance sheet and overall financial health: 1. Incorrectly categorizing transactions can distort your financial statements and lead to inaccurate financial analysis. 2. Forgetting to record transactions can create imbalances and an incomplete picture of your financial situation. 3. Entering the same transaction more than once can inflate your income or expenses, leading to erroneous financial data. 4. Failing to reconcile your accounts regularly can result in discrepancies between your records and actual bank statements. 5. Not accounting for depreciation of assets can overstate your asset values and misrepresent your financial position. 6. Inaccurate inventory tracking can lead to errors in the cost of goods sold and inventory valuation. Need help ensuring your bookkeeping is error-free? Contact us for professional bookkeeping services and gain peace of mind knowing your finances are in expert hands! https://lnkd.in/eXUDpJ2P #FinancialHealth #BusinessFinance #bookkeeping #accounting #bookkeeper #quickbooks #smallbusiness #smallbizbookkeeping #smallbusinessbookkeeping #virtualbookkeeping #remotebookkeeping #OuterBanksBookkeeper #OuterBanksAccountant #NorthCarolinaBookkeeper #NorthCarolinaAccountant #OllinBalanceAdvisory

Janelle Hanson @ Ollin Balance Advisory, Your Accounting Coach and Guide to Perpetual Profitability.

Janelle Hanson @ Ollin Balance Advisory, Your Accounting Coach and Guide to Perpetual Profitability.

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