What do you think about creating a simple filing system? Physical folders take up a lot of space and can be damaged in a disaster – this problem is non-existent with virtual filing. Here’s my filing system, using just Mac OS X and Quicksilver, and optionally, Leap. AProverbs31Wife.com, Becoming a Virtuous Woman in a Modern World: Set Apart. Of course, if your bookkeeping software has the capacity to track accounts receivable and show you which invoices aren’t paid, then you don’t need a spreadsheet and having only one file for sales invoices is the better option. Stapled corners become bulky and prevent documents lying flat and neat inside the folder. Systems are available in multiple filing styles, including 1/5 Tab, 1/3 Tab, and Binders. Construction projects require special filing because the documentation for each project becomes part of the public record. If your day is like mine, by 9 a.m. Streamline your paperwork with Microsoft office templates. Don’t worry though; we’regoing to set up a filing system that can accommodate any type of paper – homeor office. A simple business case template will help to create a clear, concise presentation that will relate to stakeholders and others who may not have your expertise when it comes to your project. So take a little time. IRS states you need only keep 3 years of tax info, but since they can go back 6 years if they suspect you under-reported your income by more than 25% we decided to keep 7 years to be on the safe side. Business filing system tip - avoid stapling documents in the top left corner – it really isn’t necessary to staple everything. Do you get frustrated trying to find a specific receipt or bill that you just don’t know where in the mess of papers it is and you have to find it right now! Don’t Let a Drowned Phone Ruin Your Summer Fun! Paperless SystemsControl your business filing system with a computer filing system either on your computer’s hard drive or in the cloud. It is important to keep a separate section for any business loans or business mortgages that are taken out. Stapled corners become bulky and prevent documents lying flat and neat inside the folder. This recordkeeping system (using the T2125 tax form as its basis) was discussed in another article.It is simple, efficient and gives you an audit proof filing system. Small business owners, specifically those who have set up a home office usually have limited working space. Thanks for sharing. Today FreedomFiler® USA provides self-purging filing systems for Home, Self-Employed, and Business settings. Don’t have a basket on your desk that starts filling up with everything received because you will become overwhelmed with papers. Some bookkeepers enter the credit card statements into their bookkeeping system as a creditor, listing out each transaction on a separate line so it is coded correctly, and then pay it off like a normal bill. Benefits: This digital method is becoming increasingly popular as people move away from physical folders towards virtual filing. You may also have annual renewals to file in this regard. Creating a Simple Filing System for Personal and Business Disclaimer: A Proverbs 31 Wife uses Affiliate links and ads to support this site. So bank account No 1 will have a section for the monthly/weekly statements, and a separate section for the monthly/weekly bank reconciliations. *This is “business” income and the records are kept 7 years. Easily Editable & Printable. When you have a system, it’s easy to stay on top of the paper clutter and important papers don’t get lost, while the bills get paid on time because they are right there. These labels make it fast and easy to file, store and recognize files. If you want your system to actually make an impact, you need to make sure that it makes sense to everyone and that it will be easy to maintain once it’s set up. The tab labels are incorrectly positioned for additional files that may need to be added. Once you figure out a system that works for you, it’s amazing how easy it is! In the Loans section you should keep all the loan documentation, payment schedules and loan statements etc. This will be all the documents produced when you set up your business especially if you applied for an official company name and registered the business with your country’s registered business provider, setting it up as a corporation or limited liability company. The System. You can buy fireproof safes that use hanging files. The payroll section or file will contain the management reports for each weekly, fortnightly or monthly pay that you process for your employees. Maintenance file and those files are only cleared out setup software or paper record, your. Good filing system with business filing system template computer filing system assets section become overwhelmed with papers compare receipts to bookkeeping. 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