Top 5 Bookkeeping Mistakes Small Business Owners in Calgary Must Avoid in 2025
Avoid costly errors in your business finances. Discover the top 5 bookkeeping mistakes Calgary entrepreneurs make — and how to fix them fast. Avoid These Common Bookkeeping Mistakes!
ACCOUNTING FOR SMALL BUSINESS
Running a small business in Calgary? Bookkeeping may not be your favorite task — but avoiding common mistakes can save you thousands. At BS Bookkeeping & Tax Services, we help business owners like you stay audit-ready and stress-free.
Here are the top 5 bookkeeping mistakes to watch out for in 2025:
1. Mixing Business and Personal Finances
Why it matters: CRA expects clean records.
Fix it: Open a dedicated business bank account and use separate credit cards. Use accounting software like QuickBooks to track only business expenses.
2. Falling Behind on Recordkeeping
Why it matters: Delays can lead to missing deductions and CRA penalties.
Fix it: Set aside a weekly time block or hire a Calgary bookkeeper (like us) to manage it.
3. Ignoring GST/HST Deadlines
Why it matters: Late filings result in penalties and interest.
Fix it: Know your filing frequency and use QuickBooks reminders or our GST/HST filing services.
4. DIY Payroll Without Proper Setup
Why it matters: Payroll errors can trigger CRA audits.
Fix it: Use payroll software or let us handle your payroll processing in compliance with Alberta rules.
5. Not Backing Up Financial Data
Why it matters: A tech failure can mean lost tax records.
Fix it: Use cloud-based software with auto-backups or talk to us about secure digital bookkeeping options.
Bonus Tip: Not Getting Professional Help
Hiring a bookkeeper can actually save you money by optimizing tax deductions and ensuring CRA compliance.
Need Help With Bookkeeping or Taxes in Calgary?
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