So you have started a small business and you’re taking on clients or making sales. Where do you keep your records? Are the post-it notes piling up on your desk? Truth be told, many small business operators wait until tax time before thinking about how they should keep their records. But why wait when it takes only a few minutes to a couple of hours to set up your record keeping?
Today’s software industry helps you set up small business accounting very easily and quickly. You can buy off-the-shelf packaging or signup with online services, some of which are even free. It’s really not the software and the book-keeping that deters people from setting up their records. Most small business owners just don’t know what is required of them.
The Records Background blog recently shared some information on how to keep small business records that provides a quick list of resources you can look into. Your state may have specific requirements that generic advice doesn’t cover.
One of the useful tactics that everyone can use is to check out their state’s Secretary of State Website. Yes, even states in the United States have Secretaries of State whose responsibilities include overseeing business records. All state-level business registrations pass through the state-level Secretary of State’s office.
You may also have to acquire a business license from your local community. Your municipality or county should have A Website explaining your obligations under the law. Be sure to check them out, too.