MONEY DECISION GUIDE
What Financial Records Should a Small Business Keep?
Organize the records that support bookkeeping, financial statements, and a tax-professional handoff.
Reviewed and updated September 3, 2026 · About 2 min read
A practical way to decide
- Keep records that identify income sources and support expenses: invoices, receipts, deposit records, paid bills, and card documentation.
- Reconcile business bank and card activity, and keep business records separate from personal records whenever practical.
- Track assets, loans, payables, payroll, and contractor records so year-end balances can be reviewed instead of reconstructed.
- IRS Publication 583 says records should clearly show income and expenses and remain available as long as tax rules may require them.
- Business Pro can organize a bookkeeping summary and year-end package. It is not a filed return, audit, or assurance engagement.
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