Good records are a key tool for decision making in your business. Instead of waiting for tax time to get records up to date, keep track of them on a regular basis. The information contained in your records will remain top of mind and can be reviewed frequently. Here are some of the most often overlooked records:
· Equipment maintenance histories
· Personnel information
· Tax-deductible purchases
· Lists of archived items
· Insurance policies
· Warranties and guarantees
Reviewing these records will help you know how your business is performing and what areas need attention. Remember, what you can measure you can manage. There are several other factors, many financial, to consider when measuring the health of your business. To learn more about these Key Performance Indicators and what they mean to you, please visit the Simons Bitzer website at www.simonsbitzer.com or call 782.3070 and ask to speak to one of our CPA’s.
