Give every transaction a home.
Keep invoices, receipts and bank records organised by period. A consistent routine makes it easier to explain what happened in the business.
Separate facts from assumptions.
Distinguish recorded results from future estimates. Keep the basis for an estimate alongside the figure so another person can understand it.
Prepare for useful discussions.
A clear description of your activity, organised records and a list of questions help you have a more focused conversation with an adviser or lender. Financing decisions remain with the lender.
This is a general business perspective, not advice for a particular tax, legal or lending decision. Discuss your circumstances with the appropriate professional.