Business owners!! It’s that time again! Now that you are nearing the end of another year, it’s time to take a look at your records and assess what needs work. There are certain records that are industry and business-entity specific, but there are some records that EVERY business should maintain properly: organizational documents, accounting and tax records, contracts (for employees, vendors, suppliers and the like), ownership approval of various transactions, client records and more. A safe rule of thumb: Each and every transaction that your business conducts- whether it’s internal or external- NEEDS to have documentation to support it.
As a business owner, it is so easy to get bogged down with managing the day to day, perfecting your product and attracting new business, that you put essential record keeping on the back burner. The back burner is a far too dangerous place to leave these things! Failing to maintain records- PROPERLY- makes you more susceptible to personal liability, tax liability, civil action against you and/or your company and much more!
Take a moment, sit down, make a list- and check it twice! Protect your business! Contact C&G to assist you today!
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