If I asked you where all the digital photos you took of your kids or adventures 8 years ago were…many of you would feel bit of regret knowing that unfortunately… some are on your current computer, some on a very old computer of yours that crashed suddenly after your spilled milk on it, and the rest were on 3 or 4 other computers you have had through the years.
The truth is, technology changes fast and suddenly your photos and important documents are left behind.
With the trend moving more and more to going paperless, not having the needed hard copies of records is becoming an increasing problem.
As a small business owner you may find yourself in a situation where you will be required to provide hard copies. One such request could be an IRS audit. And as Murphy’s Law has shown us, that will be the time your computer crashes or you will be unable to access your Cloud. Financial records and banks statements are just a few things that should always be “hard copied.”
Stay tuned for my article on Bookkeeping Mistake #3 !