Key evidence of business value you might be throwing away
Business Network South Manchester members Alex and Paul Dodgshon in their latest blog take a look at the records you should look at keeping.
How confident are you that you could produce seven years of financial records within 24 hours, if asked? If it’s just your accounts, you probably can because none of us want to get on the wrong side of HMRC. But what about the supporting financial records? Most business owners flounder and many are unaware of the value of good record keeping. Every day, business owners will delete or throw away key evidence of the performance, and therefore value, of their business. It’s not just a question of being organised and keeping everything in order. You need to understand what to keep and when to hit delete.