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Shepherd Enterprises |
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Most small business owners go into business because they have a product or service to sell, and they believe their business fills a niche. No one goes into business because they like record keeping and want to do paperwork! However, the reality is that good record keeping is essential to a small business’s long-term health and profitability. Here are some reasons why: The best business decisions rely on solid information, not on guesses. Accurate financial record keeping gives you knowledge about your business’s strong and weak points. Bankers and others, who can help you with your business, require complete records. When you go for a loan, when you decide to bring in a partner, when you go to an expert for business advice, or when you want to sell your business - all of these situations depend upon the quality of your financial record keeping. At tax time good records are essential. They’ll help you pull together your tax information quickly and easily and help ensure that you don’t underpay or overpay your taxes. In the case of an Internal Revenue audit, accurate records are the only acceptable evidence for your claims. INFORMATION IS POWERQuickBooks® is great for managing small businesses because it is easy to learn (does not take time away from your business) and gives you instant access to reports and figures that can help you make good business decisions.
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