Paperwork

Managing paperwork can be a real
struggle and sometimes
overwhelming.
Paperwork needs to be kept for
many years and the cost of space to
store it can be expensive.
One idea is to use a system where
proper archive boxes are used to
store everything.
The boxes can have a typed form
stuck to them and blank spaces on
the form are written on, detailing the
boxes contents (months, shop name).
It is a good idea to not put two
different financial years in one box,
so if a box is half full at the
end of June, nothing else is put in.
After the tax returns are done, you
can put this box away and hopefully
not have to look at it
again until it is time to throw it away.
Inside the boxes, each month’s
invoices and statements has a manila
folder.
They are labelled clearly, with
sticker labelling again, so if you need
to find a previous month’s invoice or
statement, you can easily find the
folder it is in.
Keep a photocopy of invoices for
assets purchased and keep them in a
separate folder that is easily
accessible (your accountant will want
copies).
When entering asset invoices into
the computer, put details as to what
was bought – this will keep your
accountant happy too.
This week’s
contributor is
Joanne Lyons
from Bookmarx
Bookkeeping.