Our Los Angeles Audit Representation Team Supplies Financial Statement Tips


November 13th, 2018

Because we want you to be sure to get all the services you need, our Los Angeles audit representation department will represent you with the IRS if need be. Our team of experts has the experience and dedication to resolve any and all of your issues with the government.

What’s more, we are always available to be proactive and supply the information you need to avoid an audit in the first place. For this blog, we would like to do that by talking about financial statements and how important they are to business.

 

Los Angeles Audit Representation, Financial Statements and Growth

Los Angeles Audit Representation

One of the most important things about financial statements is understanding how essential they are to business growth. That in turn means they need to be kept in a safe and secure location. These types of statements are critical if you get larger because they are proof of any of your deduction claims.

What’s more, these financial statements predict your future success because they clearly highlight money related benchmarks along the way.

Here’s a few thoughts on keeping these important documents safe and sound.

Business has been moving to the Internet for many years. That means that more and more financial statements and documents are kept on the hard drives of computers. It’s more important than ever to make sure these important pieces of information are digitized and kept safe and sound.

There are a few best practices here including making sure your financial statements are kept in the cloud. Keeping your software updated is another important way to make sure that everything stays secure.

It’s important to remember that many companies send out patches and antivirus updates. Having someone in your organization who’s in charge of implementing all of these is a good practice.

 

Backup Off Site

Although it might sound counterintuitive at first, it’s a good idea to backup all your financial information off-site. If you have some airtight security protocols, you can use thumb drives or even external hard drives to accomplish this goal.

Setting your software programs to automatic backup is another good suggestion for keeping your financial statements safe. Finally, if you’re still storing these documents in paper files in a brick-and-mortar store, it’s time to digitize.

For our Los Angeles audit representation to be effective, you’ll need this information.