Introductory Accounting

CHAPTER20

Recordkeeping Rule Book

In This Chapter

• Storing copies of electronic accounting records
• Holding on to employee records
• Saving your tax returns
• Maintaining other business records

As you’ve seen throughout this book, a wide variety of parties have an interest in your business. This goes far beyond a direct financial stake in your business. Federal, state, and local governments all have an indirect financial interest in your business through the taxes and fees you pay. Lenders, merchant account providers, insurance companies, and even vendors who extend you credit also have an indirect financial interest.

Each of these parties often ...