5 Common Small Business Bookkeeping Errors in Fort Myers

Accurate bookkeeping is the backbone of every successful business. Unfortunately, many small business owners in Fort Myers and Naples struggle to keep records organized — leading to tax problems, cash flow issues, and missed opportunities.

At MarkhamNorton, we see the same mistakes repeatedly. Here are 5 common bookkeeping errors small businesses make — and how to fix them.

1. Not Reconciling Bank Accounts Regularly

Skipping monthly reconciliations can result in missing transactions or undetected fraud.

2. Mixing Personal and Business Expenses

Personal purchases on business accounts confuse financial statements and increase audit risk.

3. Poor Documentation of Expenses

Without receipts or digital records, you could lose valuable deductions at tax time.

4. Failing to Track Accounts Receivable

Not following up on unpaid invoices hurts cash flow and creates financial instability.

5. DIY Bookkeeping Without Oversight

Relying solely on spreadsheets often leads to errors. A CPA review ensures accuracy and compliance.

FAQ

Q: How often should I reconcile my books?A: At least monthly, though weekly is ideal for high-volume businesses.

Q: Should I outsource bookkeeping?A: Yes, outsourcing to a CPA ensures accuracy and saves time for business growth.

Eliminate errors and strengthen your finances with outsourced bookkeeping from MarkhamNorton in Fort Myers.