Today is one of the best times to start a business. Many great software programs can make you efficient and help you reach your customers in a professional as well as a personal level.
Maintaining good records is important to help meet your tax and legal obligations. The right record keeping system not only helps satisfy these obligations, but it may save you money and time. Here’s what to consider for your record-keeping system.
What Records Do You Need to Keep?
The first step is identifying the records you need to maintain. The obvious examples include leases, contracts, payroll and personnel records and a range of accounting and finance information, such as invoices, receipts, checks, payables, and inventory. Please consult a professional with tax expertise regarding your individual situation.1
How Do You Want to Keep Them?
Record maintenance can take three basic forms: