One major mistake is inadequate bookkeeping. Missing invoices, unrecorded expenses, and delayed updates result in inaccurate financial data. Without reliable records, business owners cannot assess profitability or plan effectively.

❌ Inadequate Bookkeeping

Missing invoices, unrecorded expenses, and delayed updates result in inaccurate financial data. Without reliable records, business owners cannot assess profitability or plan effectively.

❌ Mixing Personal & Business Finances

Using the same bank account for both creates confusion and complicates tax reporting. SMEs should maintain separate accounts to ensure clarity and compliance.

❌ Ignoring Tax Obligations

Failure to meet tax obligations on time leads to penalties, interest, and audits that strain financial resources and damage business credibility.

❌ Skipping Financial Reviews

Reviewing monthly reports helps identify trends, control expenses, and plan growth — yet many SMEs ignore this critical practice.

How D and D Business Hub Supports You

• ✔ Professional bookkeeping and accounting services
• ✔ Financial reporting and advisory
• ✔ Tax compliance & returns
• ✔ SME financial systems setup
• ✔ IT support for digital accounting tools

Strong accounting is not a cost — it is an investment that drives smarter decisions and sustainable growth.

📞 Need expert support? Contact D and D Business Hub today.

✉ info@danddassociates.lk

📞 +94 76 646 7506 , +94 77 306 7506

🌐 danddassociates.lk