Even seasoned business owners can slip up with accounting. Here are some common mistakes and how to avoid them:

• Mixing Personal and Business Finances
  Fix: Open a separate business account and use it exclusively.
• Not Keeping Receipts
  Fix: Use digital tools to scan and store receipts.
• Skipping Bank Reconciliations
  Fix: Reconcile accounts monthly to catch discrepancies early.
• Ignoring Tax Deadlines
  Fix: Set calendar reminders or hire an accountant.
• DIY Accounting Without Knowledge
  Fix: Invest in training or use user-friendly accounting software.

Avoiding these pitfalls will lead to smoother financial operations and fewer surprises.