Good Record Keeping; A Safety Culture
Good record keeping is key for a successful business. It helps to avoid omissions by ensuring you are tracking everyday expenses and receipts. Every entrepreneur needs to keep records and the more organized the records the better the information you can retrieve from those records. An effective records management system can save money and improve your organization’s efficiency. More so, it is a great tool for continuous improvement in financial management.
A good record will help your business:
- A good record will help your business:
- Monitor the progress of your business
- Prepare your financial statements
- Identify source of receipts
- Keep track of deductible expenses
- Maintain business asset list
- Prepare your tax returns and Support items reported on tax returns
If you do not keep records of your business transactions, we encourage you to do so today. We have provided a record keeping template to serve as a guide, please feel free to download using the link below ………………
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