What types of Financial documents should I keep for my Fitness Center?

For your fitness center, it is important to keep financial documents such as sales invoices, expense receipts, bank statements, payroll records, and tax-related documents including tax returns, W-2s, and 1099 forms. These documents provide a comprehensive record of your business’s financial transactions and support accurate bookkeeping and tax compliance. Apart from this, financial statements also play a crucial role in understanding the financial position of your fitness center better. Most importantly, the cash flow statement of your business will help you analyze the finances of your business.