As a business owner, it’s essential to keep supporting financial documents for up to 7 years, depending on the circumstances. Receipts of all expenditures must be kept in case of an audit. However, over time, receipts can get lost, ink can fade, and the nature of the purchase can be forgotten. If you want to reduce the amount of paperwork stored or don’t have space in your office, consider going digital!
We suggest finding a mobile app that can help you organize your receipts. Mobile apps have made tracking and digitally storing your receipts considerably easier. Some apps allow you to upload reimbursable and non-reimbursable receipts and integrate with QBO. Attaching and storing your receipt to your transaction in QBO is a great idea. This can make an audit smoother if you can locate the transaction and receipt in one spot.
If you need help finding or integrating a system to keep your receipts organized, we can recommend programs to help you towards a clutter-free and organized workspace. At ZümiFi, we’re here to help you find the right tools to make your life easier!
With our financial management services, ZümiFi can help you create the Financial Management discipline and the routine to flex your business muscles. Our services can show you how to get the desired results for your business. Like a personal trainer at the gym, ZümiFi’s extensive financial and business expertise can save you time and money in managing your business. We’ll help you achieve your success more efficiently and effectively.
Our scope of financial management services includes monitoring your business’s financial performance with customized criteria and metric tracking, creating budgets and cash flow projections, designing and implementing internal controls, advising regarding the technology your business uses and business process optimization, providing advice/support to the CEO/COO/Owner as a key and confidential partner, and offering financial review and oversight services for clients who manage their bookkeeping.
In conclusion, keeping your receipts organized is essential for any business owner. Consider going digital and using a mobile app to simplify and streamline your record-keeping. Contact us today to learn more about our financial management services and how we can help you create a clutter-free and organized workspace for your business.