Record Keeping 101
One of the most important administrative responsibilities small business owners face is keeping accurate and current records. Not only is it critical for assessing opportunities and risks that can affect your company’s profitability and potential for growth, it’s also necessary for ensuring legal and regulatory compliance.
Here’s a list of some commonly required records businesses need to maintain. While this list is not all-inclusive, it will give you a good idea of the basic items you need to track and keep in your possession.
Accounting records (Expenses, Income, Invoices, Customer payments, Transaction records, Tax filings, Bank and Credit card statements)
Contracts (with clients, vendors, partners, etc.)
Licenses and permits
Vehicle mileage logs
Articles of Incorporation or Certificate of … Read More