❌ Personal meals, subscriptions, or travel were paid from the business account, making reports inaccurate and deductions harder to support.

✅ Keep separate personal and business accounts and cards, and if something personal slips through, reclassify it correctly right away.

❌ Payroll was run using outdated tax rates or without accounting for new requirements, leading to underpayments and notices.

✅ Review payroll settings regularly and confirm tax rates and thresholds are updated, especially at the start of the year.

❌ Equipment or large software purchases were fully expensed instead of depreciated, causing distorted profit and future issues.

✅ Identify large purchases early and track them properly so depreciation is recorded over time.

❌ Sales tax collected from customers was recorded as an expense, reducing reported profit incorrectly.

✅ Record sales tax as a liability, not an expense, and reconcile it before filing returns.

❌ Business loans or lines of credit were recorded as income, inflating revenue and tax exposure.

✅ Record loans as liabilities so reports reflect true operating income.

❌ Bank and credit card accounts were months behind, allowing errors to pile up unnoticed.

✅ Reconcile accounts monthly to catch mistakes early.

$50.00 The Clarity Kit The Clarity Kit walks you through step by step on how to properly start your business's bookkeeping! Get it now!

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If you want 2026 to feel more organized, confident, and profitable, now is the time to fix what did not work last year. Book a call to see how we can help you build better systems, get clear on your financials, and stay on track to meet your goals.

See you next week!

Marnie Roberts ​​​