Would you notice a bank error?
Would you notice a bank error if it occurred in your account? It's a straightforward question, but the answer may not be so simple.
Without a basic understanding of accounting, you're left in the dark, forced to take the bank's word for it. This understanding is core to simplifying freelance admin.
Why has accounting been around for centuries? There must be a reason, right?
You may be surprised to learn that in countries like Germany and France, many banks only provide a simple CSV file for your transactions, lacking unique identifiers for each entry.
What's more, these banks often restrict access to just one year's worth of transaction history.
And it's not just traditional banks that operate this way; neo-banks like N26 have similar limitations.
This resonates with the challenges highlighted in keep your professional transactions separate. The clearer you are with your finances, the better equipped you are to handle complexities.
The takeaway here is simple yet profound: spotting problems becomes significantly easier when you have a clear view of the situation. Sometimes we need to be reminded of obvious truths that we've overlooked.
Ready to take control of your finances?
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