How Can I Create a Good Audit Trail? | Professional Services > Accounting Professionals Center from AllBusiness.com
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How Can I Create a Good Audit Trail?

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Your record keeping will be much more effective if you have a system that allows you to quickly and easily retrace your company's financial activities.

  • Keep your invoices and checks in numeric order and don't skip check or invoice numbers.
  • Keep separate bank accounts for your business and personal funds.

If you can't go back one year and reconstruct your company's finances, you probably aren't leaving an effective audit trail.

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