Keeping clear records of income, expenses, employees, tax documents and accounts isn't just good business. It can bring you peace of mind, help you monitor progress toward goals and save you time and money. Basic records include: Business expenses.
Keeping these records will help you:
-Know how much money to invest to create your -product or service
-Set pricing
-Compare budgeted amounts to actual costs
-Track spending
-Make wise decisions about purchases
Make wise decisions about purchasesPrepare for tax time
-Access customer and employee information easily
-Protect your business in the event of an audit or employee issue
Answers & Comments
Answer:
Keeping clear records of income, expenses, employees, tax documents and accounts isn't just good business. It can bring you peace of mind, help you monitor progress toward goals and save you time and money. Basic records include: Business expenses.
Keeping these records will help you:
-Know how much money to invest to create your -product or service
-Set pricing
-Compare budgeted amounts to actual costs
-Track spending
-Make wise decisions about purchases
Make wise decisions about purchasesPrepare for tax time
-Access customer and employee information easily
-Protect your business in the event of an audit or employee issue
-Calculate expected profit