Fatima Akbar
Accurate Books. Clear Financial Insights. Stress-Free Tax
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Before having a practical experience, I was always curious about how bank reconciliations were completed for real companies . Because my bookkish knowledge was to compare the bank statement with cashbook and adjust differences.
I often heard seniors discussing that we are...
I am calling this the "Mistake post".
Wait. Did I post this by mistake?....
No, I promise. This is a bookkeeping post about the mistakes that quietly cost business owners money. There are many, so I will take one mistake at a time. This post is only about Mistake 1.
Mistake 1:...
A client asked me last week: “Why is there still a balance sitting in prepaid? I already paid all of it.”
Fair question. Honestly, it’s one of the most common things business owners get confused about.
Here’s how I explained it. When you pay your trade licence for the year, that...
Your books say $180,000 profit. Reality says $135,000. 😬
Episode on accrual expenses 👇
The case: A small trading company came to us at year-end. Their profit looked great, but they had only recorded bills they had already paid.
What was missing:
✅ Audit fee: work done in...
Challenge
A director approached me wanting full visibility of personal transactions made through the company’s bank account. Personal and business spending had been mixed, making it hard to see what belonged to whom. He needed to know exactly where his money went, without it...
