The process of opening and developing a business is complex, there are many stages and details that, if overlooked, can be fatal... accounting in a business, regardless of its size or niche, is VITAL: VITAL!
First of all, if the accounts are not up to date, all areas of the company are directly affected - that's a fact!
Below are the main mistakes to avoid when accounting for your business:
1 - Ignoring the possibilities of accounting;
2 - Mixing business and personal expenses;
3 - Not keeping up with legislation;
4 - Ignoring technological changes;
5 - Do not issue invoices;
6 - Failure in tax planning;
7 - Not paying attention to financial entries;
8 - No document management;
9 - Not analyzing the accounting results;
10 - Trying to become an accountant overnight.
In this sense, the importance of keeping accounts up to date is more than clear...
But how can you avoid these mistakes and keep your business more than healthy: alive and bearing fruit?
1 - Take advantage of the possibilities offered by accounting!
For a long time, accounting was only related to taxes and bureaucracy. Today, through countless cases, studies and information, we know that accounting is a very powerful business tool.
It's common for entrepreneurs and administrators not to take advantage of all the benefits that accounting offers, and this attitude limits the development of your business!
That's why it's worth stopping for a moment and studying, even a little bit, what's going on in the accounting area, how other companies deal with the subject, and considering possibilities, opening your mind and really looking into the area!
2 - Separate the bills!
When we talk about "mixing" personal and business expenses, it's easy to think: "It's so obvious that hardly anyone will do it! "
But think about it: you're responsible for sales, deliveries, paying and training employees, and a whole host of other demands...
Can it happen? IT CAN!
Ideally, when you open your company, you should already create an account for it, so that invoices are issued in the company's name, and so that everyone involved in financial processes is aware that a control is placed around the company's revenue.
The time to manage the company's money should not be the same as the time to manage your personal finances.
It takes discipline and a lot of attention not to make a mess!
3 - Legislation is law!
When we talk about accounting, we automatically think of bureaucracy, because Brazilian legislation is extremely complex and bureaucratic, and still undergoes constant changes.
Keeping up to date with changes in laws, legislation, deadlines and dates is very important to avoid fines and other problems.
4 - Keeping up with technological innovations.
Technology has had a positive impact in many areas, and the accounting is one of them!
To remain competitive in the market, you can't ignore the technological movement.
Whether for accounting management, customer service, document management, updating legislation, in short, technology is an accounting tool!
Having it, keeping track of it and knowing how to use it is like having a "superpower" for your business!
5 - Invoices are the rule!
Denying or not issuing invoices is illegal!
By issuing invoices correctlyThe tax authorities keep track of companies' financial movements, and this information is used for various purposes, mainly to generate taxes, so not issuing it, or making mistakes in your information/issues, is not legal for your company.
The invoice should be seen as a document, it is useful for the company in many ways, especially in accounting management.
6 - Pay attention to taxes!
As stated in this text and in previous articles, the Brazilian tax system is complex.
If you don't stay informed and attentive, it's easy to forget or miss a fee, tax or change...
Failure to pay taxes can lead to fines, blockages or illegality in your company or business.
The greatest tool for keeping taxes up to date is organization. Planning and keeping up to date with taxes, dates and obligations is essential!
7 - Pay attention to values.
Considering that accounting is a vital area for business, it's safe to say that an accounting error can be fatal for your company!
But leaving the drama a little aside, a single mistake can't bury your company... but several mistakes, lack of attention and organization, can be the end of a business.
Carrying out accounting management and paying attention to every penny is a task that requires attention at every stage.
8 - Document management is power.
Everyone knows how much paper comes in and out of a company, and that most of it is generated in the accounting sector.
It's not hard to lose, forget where you've kept it, throw it away by accident... and think of the trouble that losing an important document can cause?
One solution for these cases is file and document management software or companies.
It's an option for anyone who wants to keep a tax receipt, payment slip or any other document safe!
9 - Accounting management is gold!
You've checked the accounts, written them down, documented them and now what?
It is also part of accounting management to analyze indicators.
The analysis points out mistakes, highlights strengths, shows weaknesses to work on and more, is an opportunity to boost processes and results!
10 - SOS accountant!
Take this case: You started a company, invested in everything, but when it came to accounting, you decided to save money and through an hour of research and reading decided to do the accounting for your business yourself.
...you get to the end of the first month and wait a minute: something's not right!
Taxes have been forgotten, documents have not been requested, deadlines have been ignored. Your business is on the brink!
Now the price has gone up, and on top of the stress you've experienced, you've had to call in a professional to put your house in order, you've had to pay fines and you've almost had a heart attack.
(But it's easier to avoid!)
An accounting professional can help you in a number of ways, such as one-off services, consultancy, or according to your business needs!
You don't need to spend a lot of money to have this security, peace of mind and guarantee.
As we have seen, it is possible to avoid mistakes and maintain the health of your company through accounting.
It's not an easy road, but it is possible!
Anyway, I hope our article has helped you to see possibilities for your business within accounting.
You have doubts or would you like to add something? Please leave your comments below!
