If cash is king, data is emperor. Being audit-ready means transactions being properly recorded on one-end, with the proper source documents to back them up. Bills, receipts, invoices: Keep. Track. Of. Everything.
It’s not a question of If you are audited, it’s a question of When
Sean – In 2019, the Canada Revenue Agency (CRA) found more than $1Bn auditing smaller businesses. Some of the most common issues as per the CRA were due to books and records deemed inaccurate, inadequate or unreliable. Whether or not the CRA will pursue the same methods given COVID-19, businesses have to prepare to be audited regardless. That’s why we ask all of our clients to send paperwork – their invoices, receipts, everything – to us. We want them to be audit-ready and for everything to be safely digitised.
Want to know more? Click HERE or Copy-paste the link below to download the case study. It’s well worth your time, and should you want to learn more please reach out to us at Blueprint Accounting. We will be happy to show you exactly why Receipt-Bank is a perfect fit for almost any situation.
Check out our other blogs here.