Client Center


Client Login

Forgot Your Password? Please try logging in with the last password you remember first. (If that fails, you'll be able to reset your password on the next page.)

QuickBooks Online

QuickBooks Desktop

Hosted by RightNetworks

Receipt Bank

Video Meeting

Join a scheduled video meeting with our staff.



Common Accounting Errors and How to Spot Them

The Harding Group Common Accounting Errors

There are a couple of very common accounting errors that can cause problems if left unchecked.

There is really no denying that accounting errors are all too common among business owners — particularly when they do their own accounting. In fact, accounting errors tend to be quite inevitable. The reality is, with any small business, making sure your accounting is accurate and in tip-top shape requires a lot of effort. Ultimately, when it comes to accounting errors, you typically want to make sure you know the most common ones and how to avoid them overall. Here are just a few of the more common types of accounting errors that small businesses usually make and ways to spot them immediately — before they become a huge problem down the line. 

Any Transposition Errors

For the most part, if you have ever written down a number only to realize you got it flipped, then you understand how common a transposition error can be. In fact, a transposition error tends to involve the flipping of numbers when writing them down. The reality is, transposition errors typically happen when people are multi-tasking or simply not paying attention or lacking focus. Ultimately, this specific type of error can easily lead to overspending and be quite detrimental to any small business in the long-term. 

Entry Reversal

When it comes to accounting errors, it’s about the common issue that small businesses will experience — reversing entries. In fact, both credits and debits typically are confusing — and lead to errors overall. The reality is, even some of the most seasoned business owners usually make these common errors. Ultimately, to avoid issues with your books, try avoiding reversing entries — and knowing how can be a great start. In order to do so, business owners will want to simply double-check their work to ensure that no reversals have occurred generally. As a result, being careful when entering entries can save you a lot of time and money down the line and keep your books in check overall. At the end of the day, you want to be careful when entering any entries into the books to ensure everything is properly accounted for to ensure your small business continues to thrive and succeed for many years to come. 

Trust the Professionals at the Harding Group

Unlike other accounting firms, The Harding Group, located in Annapolis, MD, will never charge you for consultations and strive for open communication with our clients. 

Are you interested in business advising, tax preparation, bookkeeping and accounting, payroll services, training + support for QuickBooks, or retirement planning? We have the necessary expertise and years of proven results to help. 

We gladly serve clients in Annapolis, Anne Arundel County, Baltimore, Severna Park, and Columbia. If you are ready to take the stress out of tax time, contact us online or give us a call at (410) 573-9991 for a free consultation. Follow us on Facebook, Twitter, YouTube, and LinkedIn for more tax tips.

This entry was posted on Friday, June 9th, 2023 at 2:12 pm. Both comments and pings are currently closed.

Comments are closed.