MN Valley Business Magazine (August 1, 2017) – We have all heard the saying “The Devil is in the Detail,” but few of us realize how true it is. A proper system of record keeping and documentation can benefit your personal finances and career. At tax time many of us partake in a frenzied search to acquire receipts. Establishing a protocol of filing and recording will save time in the long run and vastly reduce stress and cost during an audit.
Establishing best practices and policies for your business will also pay off when seeking to expand or refinance. Financial institutions look favorably upon a well maintained documentation system. Bankers admit that even if they know a business sis doing well, the documentation is needed to secure financing.