Definition Paper Trail

glossary: Paper Trail definition
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Glossary: Paper Trail

Keep a list of everything you've done. Have a list and update it monthly, of what makes up Accounts Payable - and the total of that list needs to equal the AP entry on your balance sheet. Have a list of customer deposits, accounts receivable and a list of your assets. You need to be able to say what's in each number on your balance sheet. It's not nearly as intimidating as it sounds, and it will save you hours of head scratching later.



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Definition: Paper Trail

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