Banking
You will need this necessary document from the IRS. If you are a sole proprietor, you may be able to use your SSN.
EIN
can help you find policies that match your needs. They receive commissions, so find someone you trust.
Insurance Agents
If and when you can afford it, hiring a contracted _________ can ensure you are tracking your finances to industry standards.
Bookkeeper
Scan and save or store somewhere safe. This justifies your spending.
Receipts
Protects against any harm from food products
Food Liability
These are articles of incorporation and/or proof of good standing.
Formation Documents (LLC)
Tax-funded through payroll
Unemployment Insurance
This common software can sync with your bank account and generate statements.
Animated apps (i.e. Quickbooks, Xero, Square, etc.)
Similar to receipts, keep anything that explains your spending for tax deductions.
Invoices
protects against loss and damage of company property due to a wide variety of events
Commercial Property
Shows proof of business existence.
Business License
5+ employees, legally required but should be considered by many
Workers Compensation
If you have a board or members meetings, maintain ______________ that show any major decisions made.
Make sure your receipts and invoices match spending information on your bank records.
Bank Statements
protects against financial loss as a result of a defective product that causes injury or bodily harm.
Product Liability
Paypal and Square are considered to be ________ services.
Merchant
Commonly added when your business reaches a certain size
Disability Insurance
Printing/paper copies and filing is also an option, but consider having an electronic copy of everything stored somewhere safe.
Binders/Traditional Filing
If you have employees, use a software that generates and stores tax documents.
Payroll information
protects against financial loss as a result of malpractice, errors, and negligence.
Professional Liability
Fees + Mandatory Minimums, Location + Online Banking, Interest Rates, and Credit Options should all be considered when ________________________.
Choosing a bank.
a rider can offer protection for a small amount of business equipment and liability coverage for third-party injuries.
Home-based business
Google Drive, DropBox, Box, Sharepoint and other free options provide a lot of storage with no worry about losing your records. Consider password protection and accounts you already use.
Cloud Storage
Summarizes revenue, expenses, and _____________ over a period for quick business performance assessment.
Profit and Loss Statement
protects against financial loss as the result of bodily injury, property damage, medical expenses, libel, slander, defending lawsuits, etc.
General Liability