Every business needs good bookkeeping techniques to be followed on daily basis to keep their records up to date and to save their neck from getting in trouble at the time of audit and tax payment. But due to a few common mistakes that the companies make, they make bookkeeping something troublesome for them which is why it is important to know the common bookkeeping mistakes and the tips to avoid them as well.
- Improper or poor record keeping
When the records and the finances of a company are not updated on regular basis, the company tends to lose the spirit of transparency and the chances for error get more pronounced. So the records and bills all must be cleared on daily basis.