July 24, 2025

Top 5 Accounting Mistakes New Entrepreneurs Make – And How to Avoid Them

1. Mixing Personal and Business Finances
One of the most common mistakes that leads to messy reports.
How to avoid it:
• Open a separate business bank account
• Use YAS only to track business-related transactions

2. Not Recording Receipts and Expenses
Every dirham spent should be documented — whether it’s a coffee purchase or a rent payment.
How to avoid it:
• Use YAS’s receipt archiving feature to snap a photo and attach it directly to the system

3. Ignoring Monthly Reports
Waiting until year-end to review numbers can result in missed opportunities.
How to avoid it:
• Review your monthly Profit & Loss report on YAS and monitor changes early

4. Not Recording Sales & Purchases in Real-Time
Relying on memory or estimation leads to data loss.
How to avoid it:
• Use YAS’s smart invoicing tool to log every transaction instantly

5. Filing Tax Returns at the Last Minute
Delays in filing can lead to heavy fines.
How to avoid it:
• Set smart alerts in YAS and use the filing service to avoid penalties

Summary:

Every small mistake can cost you big in the long run.
YAS ACCOUNT is built to offer clarity and accuracy — no complexity — so you stay in control even without being a finance expert.

In this article:
Entrepreneurship is full of excitement — but the financial side can become a silent trap if not managed carefully. Many startups struggle not because accounting is complex, but because of simple recurring mistakes in their early stages. In this article, we highlight the top 5 common accounting errors and offer practical tips on how to avoid them using YAS ACCOUNT.
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