top of page
Helpful Topics

Common Bookkeeping Problems of Small Businesses

  • Accounts are set up incorrectly
  • Cash and Liability accounts don’t reconcile with bank and credit card statements

  • Retained Earnings don’t roll from the prior year

  • Balance sheet accounts never change year after year

  • Balance sheet is out of balance, assets do not equal liabilities + equity

  • A/R and A/P aging’s don’t tie to the general ledger accounts respectively 

  • For partnerships, they don’t have separate partner capital accounts 

bottom of page