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What are the most common mistakes you see as an accountant?
Date: Jul 27, 2020
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Q&A Monday | Season 1 | Episode 2 | Question 9
“What are the most common mistakes you see businesses make?"
Boo: Avoidance is one of the main ones, people often avoid their accounts which makes them a bigger problem for the future and could potentially jeopardise a business.
But I guess in terms of mistakes as such, it is probably more often claiming for something that you cannot actually claim for as a business expense. VAT is a common one for people that are VAT registered and quite often it is around not having the evidence needed to claim the VAT or whilst using something like Quickbooks or Xero accidentally assigning it the incorrect code.
So I think it is mainly just things like that, knowledge gaps that could easily be solved with a quick call or message to ourselves.
We away welcome questions from our clients and don’t ever make someone feel ashamed for making a mistake. It’s just all part of the learning.