I once did the books for a restaurant owner who kept confusing the bottom line of his profit & loss (P&L) statement with his actual cash flow. If he hadn't had someone looking over his shoulder, the results could have been disastrous.
Bookkeeping Services | Three Tips for Organizing Your Financial Records
Many business owners live in fear of one word: audit. Often this fear has little to do with any possible result of an audit. Rather, it’s a fear of having to go through your records at the last minute, sorting through heaps of old documents and receipts in a desperate attempt to get organized. However, an ounce of prevention is worth a pound of cure, and that means the time to get organized is now. Here are some tips on how to get your financial records organized ahead of time:
Legal and Tax Disclaimer
This website is created by Supporting Strategies to provide general bookkeeping and accounting information only. Supporting Strategies does not provide tax, legal or accounting advice, and the information contained herein is not intended to do so. As such, the information provided should not be used as a substitute for consultation with professional tax, legal, and accounting advisors, and you should consult with a tax, legal and accounting professional before engaging in any transaction.
.png)
.png)
.png)
