Bookkeeping errors cost SMEs thousands of euros annually – through back payments, fines, and unnecessary accountant costs. The good news: with modern AI software, most errors can be completely avoided.
Mistake 1: Not Capturing Receipts Promptly
Receipts that sit in a drawer for weeks lead to booking gaps and incorrect period allocations. WiBooks solution: Scan receipts directly with your smartphone – the AI books them immediately.
Mistake 2: Mixing Private and Business Expenses
A classic mistake for self-employed people. Booking private withdrawals as business expenses is problematic under tax law. WiBooks solution: Separate accounts and automatic categorization immediately detect inconsistencies.
Mistake 3: Incorrectly Calculating VAT
Wrong VAT rates are the most common booking error. WiBooks solution: The AI reads the correct VAT rate directly from the receipt – and warns of discrepancies.
Mistake 4: Forgetting Depreciation
Many SMEs forget the annual depreciation entry. WiBooks solution: Asset management automatically reminds you of due depreciations.
Mistake 5: Postponing Bookkeeping Until the Last Minute
Those who do bookkeeping only once a year have no overview of their liquidity. WiBooks solution: Through automatic posting, your books are always current.
Conclusion
With the right software, bookkeeping errors are a thing of the past. WiBooks automates error-prone processes and gives you a clear overview of your finances at all times – free from the Free plan.