What Should Go Into Your Corporate Record Book for Your LLC
If you have set up an LLC, it is important to create and maintain a corporate record book. This book will help keep your business organized and ensure that all of your records are in one place. In this blog post, I will discuss the contents of a corporate record book and why it is important for your LLC.
One of the first things that should go into your corporate record book is your Articles of Incorporation. These articles are the official documents that establish your LLC. They will include information such as the name and address of your LLC, the names of the members (even if you’re the only member), and the purpose of your LLC. You will need to keep these articles in your corporate record book in order to maintain your LLC status.
Another important document to include in your corporate record book is your Operating Agreement. This agreement outlines the rules and regulations that govern your LLC. It will include information such as the roles of the members, how decisions will be made, and how profits will be distributed. You will need to keep this agreement in your corporate record book in order to ensure that your LLC is operating smoothly.
Your corporate record book should also include minutes from all of your meetings. These minutes will serve as a record of what was discussed at each meeting and any decisions that were made. Minutes from meetings can be used as evidence in the event that there is a dispute between members.
Essentially your corporate record book should also contain any other important documents that pertain to your LLC. This could include tax returns, financial statements, and contracts. Keeping all of these documents in one place will help you keep track of your LLC’s finances and legal agreements.
Another option is to set up a digital version of your corporate record book on your cloud space. Just label the folder “Corporate Record Book” and begin storing documents in that folder. Anything that is a paper copy of something, scan it into your computer and upload it to your digital corporate record book.
But documents are not the only pieces of information you should be storing. Once you start your LLC and obtain your EIN as well as other identification numbers that pertain to your business, you should keep all of this type of information available on your cloud space so that you don’t have to search everywhere trying to locate all of these things as you need them.
Maintaining a corporate record book is an important part of owning an LLC. It will help you stay organized and ensure that all of your records are in one place. By including the documents listed above, you can be sure that your LLC is running smoothly and efficiently.
Check out my YouTube video “What Every LLC Owner Should Know About Their Business” as I break down everything in greater detail.
I’m Ktasha (“Tasha”), a seasoned expert in small business management and taxes. My expertise lies in supporting small business owners and self-employed individuals like you with tax management and overall business operations. I understand how challenging it can be to keep everything organized and running smoothly when you’re focusing on running your business. That’s why I’m here to help take the weight off your shoulders. I offer tailored service packages, as well as consultation and coaching services, to help simplify your business affairs and reduce stress. Whether you’re an experienced entrepreneur or new to the game, I’m here to help you navigate the complexities of business ownership and operations with ease.