subject: Wahid's suggestions (part-02) - Good records will support you verify the development of your business [print this page] Wahid's suggestions (part-02) - Good records will support you verify the development of your business
Introduction: Good record keeping is essential to resourceful business procedures. It is also serious for all legal connected issues. Setting up a record keeping method is not exhilarating and doing official procedure can be time overriding. Except creating and keeping a regimented method is easier than setting up an unfortunate one. Below are some ways to organize important business records. Combine one or more of these categories or break them down, depending on the nature and complexity of your business.
01. Accounting and Bookkeeping Records: Sales and expense information, inventory, ledgers, income statements, balance sheets, cash flow statements, and other financial statements should all be records yearly.
02. Bank Records: Bank statements, cancelled checks, bank reconciliations, notice from and to your bank, deposit slips and any loan related notices and documents. Store yearly.
03. Contractual Agreements: Contracts, real estate leases, equipment leases, purchase agreements, sales agreements, joint venture agreements, work for hire agreements, and other contracts.
04. Corporate Records: Articles of Incorporation, Bylaws, Shareholder Minutes and Consents, Board Minutes and Consents, state filings, Action of Incorporator, and amendments to the various corporate documents. If your business is not a corporation, then the other documents that may be relevant here are partnership agreements, LLC documents, consents of the owners and similar records.
05. Correspondence: vital letters sent and received by mail, faxes and important e-mail that you want to make sure is not lost and should be kept in solid copy.
06. Intellectual Property Records: Trademark applications, copyright filings, patent filings and patents, licenses and confidentiality or non-disclosure agreements.
07. Marketing and Advertising Records: Marketing brochures, print ads, web banners, text of radio ads, and other marketing materials.
08. Permits and Licenses: Permits, licenses or registration forms needed to operate the businesses, whether required under national, law.
09. Forms Used in the Business: Standard form of purchase order, sales agreement, offer letter to new employees, employment applications, etc.
10. Stock Records: Stock Ledger where every stock and other securities transaction are recorded, copies of stock certificates, options and warrants, and copies of all securities law filings.
11. Employee Records: Employment applications, real employment tender letters, employee handbook or policies, employment agreements, performance appraisals, employee attendance records, employee termination letters, and any settlement agreements with concluded or terminate employees.
12. Tax Records: Quarterly and annual national income tax filings, filings for self-determining contractors, records supporting tax filings, custody tax records, and other tax related matters.
