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Marking Your Path

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<html> <head> <title>Marking Your Path</title> </head> <body> <h1>Marking Your Path</h1> <div class="info">Author: <a href="http://lukeadams.articlealley.com/">Luke Adams</a></div><div class="body">When Hansel and Gretel were left in the woods by their evil step mother, Hansel's sharp young mind thought quickly and left a trail of white pebbles behind so he and his sister could find their way home. The second time they were abandoned, he left a trail of bread crumbs. Even though the second attempt to mark the pathway failed, the concept is brilliant. Leave a trail! <br /> <br /> Every transaction that happens in a business should have a supporting document(s). These documents are used as evidence that a particular business transaction actually happened. Supporting documents are used to make accounting entries. They also serve as support during an audit. <br /> <br /> These documents should include the date, the amount, and a description of the transaction. These papers are known as source documents, supporting documents or are sometimes referred to as a paper trail. <br /> <br /> Examples of supporting documents include but are not limited to: <br /> <br /> Credit card receipts <br /> Checks <br /> Invoices <br /> Purchase orders <br /> Time cards <br /> Deposit slips <br /> Receipts <br /> <br /> After a transaction has been entered, these documents should be kept for future reference. If a paper trail is not available, one should be created using a bank statement or another existing source. <br /> <br /> When your business or an auditing firm needs clarification on a transaction, make sure that you have marked a visible trail that will justify your companies' position on the matter. This will also give you more information when making crucial financial decisions. Information gives you a solid understanding of where you are, which in turn helps you know where you want to go. <br /> <br /> LEAVE A TRAIL! <br /> <br /> Luke Adams - President InFront Finance, LLC<br /> https://www.infrontfinance.com<br /> </div> <div class="source">Article Source: <a href="http://www.articlealley.com/http://lukeadams.articlealley.com/marking-your-path-84318.html">http://www.articlealley.com/http://lukeadams.articlealley.com/marking-your-path-84318.html</a></div> <div class="author"> <div class="authorBio"></div> </author> </body> </html>

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Marking Your Path Author: Luke Adams When Hansel and Gretel were left in the woods by their evil step mother, Hansel's sharp young mind thought quickly and left a trail of white pebbles behind so he and his sister could find their way home. The second time they were abandoned, he left a trail of bread crumbs. Even though the second attempt to mark the pathway failed, the concept is brilliant. Leave a trail! Every transaction that happens in a business should have a supporting document(s). These documents are used as evidence that a particular business transaction actually happened. Supporting documents are used to make accounting entries. They also serve as support during an audit. These documents should include the date, the amount, and a description of the transaction. These papers are known as source documents, supporting documents or are sometimes referred to as a paper trail. Examples of supporting documents include but are not limited to: Credit card receipts Checks Invoices Purchase orders Time cards Deposit slips Receipts After a transaction has been entered, these documents should be kept for future reference. If a paper trail is not available, one should be created using a bank statement or another existing source. When your business or an auditing firm needs clarification on a transaction, make sure that you have marked a visible trail that will justify your companies' position on the matter. This will also give you more information when making crucial financial decisions. Information gives you a solid understanding of where you are, which in turn helps you know where you want to go. LEAVE A TRAIL! Luke Adams - President InFront Finance, LLC https://www.infrontfinance.com Article Source: http://www.articlealley.com/http://lukeadams.articlealley.com/marking-your-path-84318.html About the Author:

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