2 – Recordkeeping
Recordkeeping is always important, but current factors – like loan forgiveness – make it that much more important to stay on top of. Begin by reviewing the questions below and then the topic-specific resources.
- Have you considered what accounting system you are going to use to continue to keep your financial records up-to-date? Do you need to upgrade to QuickBooks or a similar platform?
- If you have accepted either a grant or forgivable loan funding, do you have a full understanding of the documentation and reporting guidelines? Check out the webinars listed below.
- Do you have an offsite back-up of all of your records and important documents/information?
Business Now: Recordkeeping for Loans and Awards Webinar-Central Virginia SBDC
Introduction - (1 min)
Why is record keeping for loans and awards important? – 1:07 (4 min)
Things you need to do to make your business creditworthy – (2 min)
Documents you will need to keep on file for your digital records - (5 min (Financial documents, Payroll documents, PPP Loan Forgiveness/other award documents)
Resources – (1 min)