Accounting plays a critical role in the success and sustainability of any business. Even minor errors can lead to major financial setbacks or compliance risks. At KC Accounting, we’ve outlined 10 of the most common mistakes businesses make—and how to prevent them:
1. Delayed transaction recording
Late or inconsistent record-keeping can lead to poor decision-making.
✔️ Solution: Use automated systems and update your records regularly.
2. Mixing personal and business expenses
This blurs financial clarity and can cause compliance issues.
✔️ Solution: Keep accounts separate and maintain dedicated books for your business
3. Not considering the size of the company
Ignoring the company’s size when applying Dutch GAAP can lead to unnecessary disclosures or missed simplifications allowed for smaller entities.
✔️ Solution: Assess your company’s classification (micro, small, medium, or large) and apply the appropriate reporting exemptions and requirements.
