1. Check Register
   1. Checks
      1. Name on Check
      2. Amount and Date of the Check
      3. What the check was for
   2. Payroll checks include:
      1. Gross amount (Salary or Hourly rate)
      2. Amount of Withholding (Income Tax)
      3. Amount of FICA (Social Security)
      4. Amount of FICA med (Medicare)
   3. Deposits
      1. Amounts deposited
      2. Where money came from (invoice payment, loan, contribution, name of payor)
   4. Bank Statements
      1. Original Statements by month
      2. Monthly Reconciliations
2. Other Records
   1. Sales
      1. Receipts/Invoices
      2. Contracts
      3. Sales on Account
         1. Name, Address, Social Security Number
         2. Terms of sale and payments
         3. Original Contract/Agreement
   2. Expenses
      1. Receipts (keep by type of expense/item purchased)
      2. Bills/Invoices
      3. Contracts
      4. Purchases on Account
         1. Name and Address of Company
         2. Your Customer Number with them
         3. Original Contract/Agreement
      5. Auto Expenses
         1. Keep mileage log (to and from work not allowed)
         2. Keep all actual auto expenses on file
      6. Home Office
         1. All utilities
         2. Original purchase/rental documents
         3. Improvement/Repairs & Maintenance
         4. Annual Mortgage report
   3. Loans
      1. Original Contract
      2. Amortization Schedule
      3. Records of any changes or alterations in loan documents
   4. Payroll
      1. Employee Name, Address, Social Security Number, Phone Number
      2. I-9 information (form, copies of ID and SS card)
      3. Employment agreement and Form W-2
      4. All records of payments, withholding etc.
      5. Copies of all Payroll Tax Returns (941, 940, TEC)
   5. Cash Transactions
      1. Keep all receipts
      2. Keep a log of all transactions
   6. Taxes
      1. Keep all returns for at least 5 years and we recommend 7 to 10 years
      2. Copy all checks sent – make sure check detail explicit
      3. Mail all payments/correspondence certified return receipt
      4. Keep records for different types of tax separate
   7. Permanent Business Files
      1. Sales Tax Number
      2. Employer ID Number (Form SS-4)
      3. Assumed Name Certificate
      4. Partnership Agreement/Incorporation Papers, if applicable
      5. Keep all returns for at least 5 years and we recommend 7 to 10 years
      6. All fixed asset receipts and depreciation schedule

Records needed for bookkeeping, records management and tax preparation:

Choosing Your Tax Preparer/Financial Consultant

1. Detailed list of all assets, including cash
   1. date of purchase/donation
   2. cost/value
   3. all loan/debt information related to the items, including contracts
2. Inventory breakdown/count
3. Copy of most recent Tax Return for the Business with detailed depreciation schedule
4. Bank Statements
5. Completed check register
6. Detail of all cash transactions to date for the year (including credit card purchases)
7. Payroll activity and Payroll tax payments/returns
   1. 941 – Withholding, FICA, FICA med
   2. 940 – Federal Unemployment (FUTA)
   3. TWC – State Unemployment (SUTA)
   4. ES – Estimated Tax payments on Business Net Income
   5. List of all employees with
      1. Name
      2. Social Security Number
      3. Address
      4. Form W-2
8. Computer reports (if you use an in-house computer) as follows:
   1. Cash Receipts (Deposits)
   2. Cash Disbursements (Checks)
   3. Sales (Invoices)
   4. Purchases (Merchandise Bills)
   5. General Ledger
   6. General Journal
   7. Balance Sheet
   8. Income Statement
9. Listing of all Accounts Receivable with balances due you
10. Listing of all Accounts Payable with balances you owe each one
11. Copies of most recent Personal Federal Tax Returns filed (for proprietorship)
12. Copies of most recent Payroll (Federal and State) and Sales Tax Returns filed
13. Copies of all official business paperwork
    1. Assumed name
    2. State Tax ID
    3. Parnership and/or Incorporation papers (if applicable)
14. Any bank or SBA loan papers
15. Individual Income Tax
    1. SS Card and dates of birth for all dependents and family members, a Driver’s license is required for one of the taxpayers
    2. Forms W-2, 1099, Social Security or Pension payments
    3. Receipts and/or Proof of expense & reimbursement for all medical and/or business payments
    4. Purchase & Sale Papers on residence and/or business assets
    5. Receipts for transportation, lodging and mileage for business or medical purposes
    6. List of Assets, their cost and date of purchase & any prior depreciation
    7. Reports, costs and/or insurance reimbursements for any accidents, thefts or casualty losses
    8. Charitable contributions in cash or non-cash with detailed list and FMV of items donated
    9. Mortgage papers; rents received or paid; utilities, insurance and other expenses for home office and/or rental properties
    10. Medical, dental, optical, chiropractic, insurance, prescriptions, and any other costs of maintaining or regaining your health
    11. Mortgage interest & property tax on residence
    12. Unreimbursed employee expenses such as auto & travel, meals, entertainment, uniforms, licenses & memberships, etc.
    13. Any and all gambling winnings and costs (include all gambling costs for the year if you had any winnings)
    14. Any income, dividends and/or interest not listed elsewhere such as income from rent