Posts in bookkeeping mistakes
Common Bookkeeping Mistakes #5 - Categorizing Income/Expenses Incorrectly

Categorizing income and expenses properly is essential to produce accurate financial reports, measure your operation's performance, budget for the future, and more. Without placing transactions in the correct category, a bookkeeping system is essentially worthless, since the final numbers don't mean anything. Is an operation even profitable in this situation? Who really knows?

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