By choosing not to have an accounting professional active in his company, the manager may face serious problems in the future. This is because this is a very bureaucratic and complex area and in addition minimizes the chances of committing the five accounting errors can generate tax assessments, negative effects on the budget and other points that can be directly linked in the development of the company.
For each error relating to tax, tax or accounting procedures, our legislation provides for a probable penalty, often by means of a fine.
In order to avoid future problems, know five accounting errors that can harm a company . Check out!
Perform the wrong calculations
Keeping the records in the accounting books is essential, but performing this task requires a lot of attention. Typos and lack of revision can be harmful and end up aggravating other types of failures, which further increase the problem.
Therefore, care must be taken when reporting the records, avoiding as much as possible manual errors. A mistaken assessment can be considered:
- When the taxis calculated less than due, the public agency is charged with collecting the remaining amount, generating rework and probable fine for inconsistency in a declaration delivered with a tax assessment error;
- In the time that the tax is calculated for more than due, the company will lose money and will not be able to recover it if it does not review its previous actions.
In order to assist during the preparation of this document, look for automated audit tools, so that it is possible to avoid human errors. Also count on the help of an accountant, who understands better in performing this task.
Keep tax documents disorganized
By not keeping documents stored and well organized, in a way that helps in locating, finding certain documents can become a time-consuming task, contributing to the loss of important accounting documents. In addition, a major accounting error is the increase in fiscal risk.
In this way, the manager can choose to adopt software for managing tax documents in the company, with related activities, as well as the tools that compose documents based on the CNPJ of the business.
Inappropriate payment of taxes
We know that our country has one of the highest tax burdens in the world, Brazil has several taxes and varied contributions to be paid in order to keep the company regular before the tax authorities.
Thus, by neglecting payments, or making them with delays, it can cause the company’s financier to pay fines before inspection agencies. Depending on the amount to be settled, it can be definitive for the survival of the company, and may lead to its closure.
Mix personal finance with company finances
It is very common for entrepreneurs to mix their personal finances with company finances. This type of attitude can end up hindering the control of cash flow, not making it possible to know the company’s profit and expenses.
Although there is no legislation mandatory to separate accounts, this is an extremely necessary action. Thus facilitating financial control by the company and the manager’s personal life.
Another important factor for the company to have its own account is to have greater privacy. With the help of an accountant, he will have access to the company’s current account statements. If it is the same company and personal checking account, besides creating confusion, you may have problems sharing personal data, being totally unnecessary.
Read more about: Service providers: What is and the importance of accounting in this service
Ignoring accounting principles
Accounting has seven accounting principles , which allow companies to work in a transparent manner, in addition to carrying out correct analyzes, which assist in financial management and help the manager not to make the five accounting errors. They are:
The entity principle recognizes Equity as an object of Accounting and affirms equity autonomy, the need to differentiate a particular Equity in the universe of existing assets, regardless of whether it belongs to a person, a group of people, a society or institution of any nature or purpose, with or without profit.
Consequently, in this sense, Equity is not to be confused with those of its partners or owners, in the case of a company or institution.
The Continuity Principle assumes that the Entity will continue to operate in the future and, therefore, the measurement and presentation of equity components takes this circumstance into account.
The Opportunity Principle refers to the process of measuring and presenting equity components to produce complete and timely information.
Principle of registration at original value
The Principle of Registration at Original Value determines that equity components must be initially recorded at the original values of the transactions, expressed in national currency.
Principle of competence
The Competence Principle requires that the effects of transactions and other events are recognized in the periods to which they refer, regardless of receipt or payment. Single paragraph. The Competence Principle presupposes the simultaneous confrontation of revenues and related expenses.
Principle of prudence
The Prudence Principle determines the adoption of the lowest value for the components of the asset and the highest for those of the liability, whenever alternatives are equally valid for the quantification of equity changes that alter the Shareholders’ Equity.
The simplest way to avoid the five accounting errors is to take into account the accounting principles mentioned above and record the company’s data in accordance with the supporting documents and actual projections of equity values.
In addition, we always recommend hiring the services of an accounting professional, who will help you from the beginning to achieve success.
Count on RK Contabilidade to make this alliance! Here you can count on one of our differentials, which is the financial management of your business, where through management and control tools, we better analyze the financial health of your company, showing your information clearly and objectively.