The biggest mistake business owners make in today’s market is not getting good accounting software, corporate accountant brampton.  Failing to follow accounting procedures. Even the smallest nonprofit should set formal, documented and detailed procedures for managing bookkeeping and accounting chores. Your process needs to include all aspects of managing your organization’s money, including the proper way to accept, document and deposit donations, pay bills, and handle every step in between.

 

Making data entry errors. It’s easy to wreak havoc on your accounts by entering a $500 payment as $50 or transposing numbers, so check and doublecheck every entry every time. Reconcile accounts against bank statements immediately and don’t overlook even the smallest  discrepancy. Little errors don’t go away; they just become bigger problems.