Audit proof your business.2019-01-05T15:07:57+00:00

Summary

Find below a summary of documents discussed in this course:

Cash
Check book register
Cash register
Bank statements
Deposit slips (if it includes details not included in bank statement)
Revenue and expenses
Sales receipt
Sales invoice
Expense receipt or bill
Write purpose and person if meal expense
Money from owner
Capital contributions
Operating or shareholders agreement (Plan to contribute)
Meeting agenda and minutes
Capital contribution log
Loans
Loan agreement
Meeting minutes and agenda
Money to owner
Paycheck
Payroll records
Distributions
Meeting minutes and agenda
Declaration of distributions/ dividend attachment to meeting minutes
Loan repayments
Loan agreement (schedule of payment)
Reimbursements
Check with memo
Receipts
Mileage log if vehicle expense
Accountable reimbursement plan document
Partnership agreement clause in operating agreement for LLC partners
Personal expenses
Check with memo
Owners draw log
Inventory
Inventory log
Fixed asset
Fixed asset log
Expense versus asset
Documentation of procedures
De minimis safe harbor election
Employee records
Hiring records
Form 1-9
Federal and state W-4
Records of monthly payroll deposits
Form 941
Form 940
State unemployment tax form
W2s
Independent contractors
W9
1099
Independent contractor versus employee
Contract stating terms of relationship
Customer records
Customer address book
Vendor records
Vendor log
Shareholders compensation
Basis for compensation