Remember, when closing or selling a business that you may have refunds owed to you such as prepaid insurance premiums, prepaid state unemployment insurance, utility deposits, rent deposits, etc.
Properly-recorded payments in your financial system should already show you what money you’re due to get back. But vendors should also notify you as well. Just make sure that when they notify you that you have a credit balance that they have actually submitted a refund check to be processed.
If you would like Montgomery Business Solutions to look over your expenses please contact us.
~ Leigh Ann