Record Keeping....What to Keep and How Long to Keep It.

Quiz time:  

Let’s see how many you can answer.

1. How long do you keep Accounts Receivable Invoices?
2. How about bank deposit slips?
3. Purchase orders?

The answers are: 

1. Seven years.
2. Three years.
3. Seven years.

How many did you get right?  

Keeping accurate business records is part of creating a successful business.  Good record keeping can make tax preparation easier and help you have a better perspective of your financial standings.  

Knowing what to keep and for how long can be confusing.  We want to help, so for this blog post we want to link you to our Guide to Small Business Record Keeping. Inside you will find advise on how and where to keep your records along with lists of what is important to keep and for how long.  

We want to help!  Let us know if you any questions about your current record keeping system.