Questions with SCORE: Why do I need to keep accurate business financial records?

Today we link up with SCORE Southeast Minnesota to learn more about SCORE and how they can assist in the growth of your business. In the video today, SCORE volunteer Barm Alsbrook answers the question, “Why do you need to keep accurate business financial records?”

Good financial records not only help you understand how your business is doing, they are essential to know how much money is flowing in and out of the business and to recognize if you need to change your prices. Accurate financial records are also necessary to accurately prepare your business taxes to receive the tax return that you deserve.

SCORE is the largest organization in the world that helps people start and run businesses through their free consulting services. Find your mentor by clicking the button at the top of the page or by going to directly to the “Find Your Mentor” website: https://www.score.org/find-mentor.