Business owners
what is required to show at the meeting if your a business owner. I just own a small business, only me, make about 35000, but after all dedutions it ends up being a profit of 20,000. I keep very basic records. I write down what i did and how much i brought in for the day on a sheet of paper and then on another sheet i write down my expenses and the date of that expense. Not sure what other bus. owners are talking about as far as a financial statement goes. What does that mean? Will my records work as far as a trustee goes. I do have a business bank account too and all my statements. I know i've been a pain with all my recent posts...Sorry and Thank you!!!!!
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I am self employed and before my meeting I was sent a packet to fill out asking me about my gross sales, expenses, inventory, accounts payable, accounts receivable among other things. I had to send in 6 months worth of bank statements. I use quickbooks so I had to print out profit and loss statements. I had my meeting on Friday and everything went pretty smoothly but my trustee said they will be requesting cash flow reports throughout the plan so keep good records if you can.
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