As a business owner, you know that keeping records can save you time, hassle and money in the long run. But there might be some records you haven’t thought about.
For tax purposes, you should keep record of your income, expenses, profits or losses. This means keeping your invoices, receipts, bank statements, payroll records and ledgers.
Alongside your financial records, here are four more areas you should keep track of:
* Inventory, including available stock and purchase orders.
* Communication records, including meeting minutes and important business-related emails.
* Marketing campaigns and results, including website analytics and sales performances during and after campaigns.
* Legal compliance records, including employee agreements, insurance documents and any industry-specific permits.
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