Cash receipts, foreign payments, and platform income are often missed—triggering scrutiny.
Without invoices or proof, expenses may be disallowed during audits.
Periodic reviews catch issues early, correct classifications, and ensure accurate filings.
![Key Tax Deadlines Small Businesses Must Track in [Year]](https://news.genausolutions.com/wp-content/uploads/2026/01/best-accounting-table.jpg)
Missing deadlines leads to penalties—even if you owe zero tax.
Use calendar alerts, accounting software reminders, or delegate compliance tracking to professionals to avoid last-minute stress.
Reconciliation ensures your books reflect reality—not assumptions.
It’s the process of matching your records with bank, card, and payment gateway statements to catch errors, duplicates, or missing entries.
More frequent reconciliation means fewer surprises.