📊 5 Biggest Bookkeeping Mistakes in Year 3 of Business

Jan 23

By year three, your business should be gaining momentum. But if your bookkeeping hasn’t kept up, you could be holding yourself back — or worse, making costly mistakes that catch up at tax time.

Here are the five most common mistakes we see in year 3:

1. Not Upgrading Your Financial Systems

Still using spreadsheets or outdated tools? That might have worked in year one, but as your revenue and transactions grow, you need reliable, scalable tools.
✅ Switch to QuickBooks Online or a system that fits your business growth.

2. Neglecting Monthly Reconciliation

If you’re not reconciling bank and credit card accounts monthly, you’re flying blind.
✅ Regular reconciliation helps you catch errors early and ensure accurate reporting.

3. Ignoring Financial Reports

By year three, you should be using your financial reports to guide strategic decisions.
✅ Start reviewing your Profit & Loss, Balance Sheet, and Cash Flow reports monthly — not just at tax time.

4. Lack of Bookkeeping Oversight

You may have someone doing your books, but is anyone reviewing their work?
✅ Business owners should review reports or work with a ProAdvisor to ensure everything’s aligned.

5. Waiting Too Long to Get Help

Mistakes compound over time. Don’t wait until tax season or a crisis to bring in help.
✅ Proactive support can save you thousands and keep your business running smoothly.

✅ Book a Free Diagnostic Call

Need a second set of eyes or help cleaning up your books? Book a free call with Dr. Bryan Raya, QuickBooks ProAdvisor:
👉 https://calendly.com/dbr_bookkeeping/book-a-free-call-with-dbr

Let’s start Doing Business Right.
#BookkeepingMistakes #Year3Business #SmallBusinessFinance #QuickBooksHelp #DBRBookkeeping #DoingBusinessRight

Bryan Raya