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New post: 5 accounting mistakes that could be hindering your business - When it comes to growing your business, few decisions matter as much as tracking your company’s finances. In the beginning, many small business owners try to manage their books independently rather than hiring a financial professional. For many business owners, going at it alone leads to easily avoidable mistakes. Here’s a look at some of the biggest accounting mistakes that can derail small businesses, along with some tips for avoiding them. THE BIGGEST ACCOUNTING ERRORS SMALL BUSINESSES MAKE In accounting, sometimes the smallest errors can have a significant impact on your business’ financial health. Here are some examples of common accounting errors. * Overstating cash flow: Adequate cash flow is a crucial aspect of running a successful business. Unfortunately, many businesses overestimate how much cash they have on hand, which can lead to problems when you need to pay your employees and vendors, as well as fund important business purchases. * Incorrectly tracking income: If you don’t accurately track your business’s revenue, you could end up over-reporting or under-reporting your income. This crucial detail can have significant repercussions when it comes time to calculate what taxes you owe.  * Incorrectly tracking expenses: Another common mistake businesses make is failing to accurately track their expenses. Keeping track of business expenses helps you know what your taxable income is, ...