Accounting Matters Blog
Posts filed under ‘TIPS’

Tips for Year-End

Let’s talk about getting your books and business ready for your tax preparer, while cleaning up your books and close the current year on a good note, which will start the next year on the right foot.
Small Business Guide - Year End - 7 Item Checklist

1. Get your financial records and books in [...]

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Q.

What is the best way to organize my business financial records?

A.

We have found that the most successful small business owners keep good records and maintain a good record filing and retention policy. It is important to keep all monthly bank statements, monthly cancelled checks, credit card receipts, credit card statements, cash receipts, and any important business documents in an organized filing system. We recommend that you keep these documents sorted by month. This makes it easier to send us your documents and also ensures that your back-up documents are readily accessible should the need arise. One easy and effective record retention method is to purchase a scanner and save all your financial documents electronically. By doing so, you can save space and prevent document loss.

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