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Bookkeeping Made Ezy with Jeanette

The 7 Bookkeeping Mistakes That Cost Small Businesses Money

  • Writer: Jeanette Howel
    Jeanette Howel
  • Nov 18
  • 2 min read

Running a small business is exciting — but if your books aren’t in order, small mistakes can quickly turn into expensive problems. The good news? Most issues can be avoided with a little structure and support.


Here are seven common bookkeeping mistakes that cost business owners time, money, and stress, plus how Bookkeeping Made Ezy helps you avoid them.


  1. Not Reconciling Accounts Regularly


Bank feeds are helpful, but they’re not perfect. If you don’t reconcile regularly, you can miss duplicate transactions, failed payments, or unexplained charges. Regular reconciliation helps keep your numbers accurate and gives you a clear picture of your cash flow.


  1. Forgetting to Track GST Properly


Small errors in GST coding can lead to incorrect BAS lodgements. Overclaiming or underclaiming GST may trigger an ATO review — something no business wants.


  1. Lost or Missing Receipts


The ATO requires valid evidence for deductions. If receipts are missing, you might miss legitimate claims, costing you real money at tax time.


  1. Treating Business and Personal Spending as the Same


Mixing personal and business expenses creates confusion and complicates reporting. Clean, separated accounts make bookkeeping faster and far more compliant.


  1. Payroll Errors


Incorrect wage calculations, missed super payments, or late STP lodgements can lead to penalties. Payroll is one of the most regulated areas — and one of the most common places for mistakes.


  1. Leaving BAS to the Last Minute


Rushed BAS preparation increases the risk of errors and leaves no time to correct mistakes before lodgement. Good systems mean you’re always ready for deadlines.


  1. Doing It All Yourself


Business owners wear enough hats. When bookkeeping falls behind, everything else suffers — from cash flow to staff payments. Outsourcing often saves money and reduces stress.


How Bookkeeping Made Ezy Helps You Avoid These Costly Mistakes


Bookkeeping Made Ezy provides reliable, accurate and compliant bookkeeping services designed for busy business owners. Whether you need help with BAS, payroll, reconciliation, or day-to-day bookkeeping, BME keeps your numbers clean and your business running smoothly.

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