MISTAKE Business Sellers Make #3: Not having clean, accountant prepared financials that match BAS (Business Activity Statements).

📣 Why it’s a problem:

Inconsistent, inaccurate or personal expense filled financial records can raise red flags for buyers, their accountants and lenders, making the business appear risky and unreliable. 

If your financials don’t match your BAS (Business Activity Statements), buyers may suspect underreporting or dishonesty, potentially derailing the sale. 

Additionally, financial discrepancies can lead to undervaluation, extended due diligence, or making it difficult for a buyer to get a loan, which may derail a sale.

📣 How to avoid it:

Work with a qualified accountant (ideally one that specialises in business sales) to prepare accurate, up-to-date financial statements that align with your BAS. 

Ensure all records are clear, professional, and easy for potential buyers to understand. Perform a pre-sale financial review with your accountant or broker to identify and resolve any discrepancies well before listing the business for sale.