18 Jan Shoebox Accounting
So, are you one of these people who have a shoe box or several shoe boxes full of receipts, payments and customer invoices?
Or do you have bits of paper, receipts and payments all over your working desk, in your glove box or tool box?
Or even on the dashboard of your work ute/car, to be blown away when you open your window for air while driving.
Well, it's time to get organised, and time to store your accounts better.
Why not consider getting a filing system in place instead that works, and will keep all your original receipts and
records in a better order for easy access.
Remember, the ATO requires you to keep paperwork for five years in most cases, and seven years for payroll information.
So, if you still want to use a paper-based system, maybe this might help –
Using a concertina file or folder helps keep everything all in one place.
If using a concertina file or folder, make sure the file or folder names makes sense, such as Rent, Insurance,
Vehicle Expenses, Electricity, Premises Outgoings, Purchases and Customer Invoices.
You can also nest files within the folder, if needed, for instance, the insurance file may hold multiple
insurance policies. Vehicle Expenses may hold petrol receipts, registration and vehicle repairs.
Keep all your paperwork sorted, be either Financial Year, Quarterly or Monthly. Filing your paperwork routinely
makes sure you don't lose any paperwork.
And routinely filing of your receipts, invoices and payments makes it even easier to recall them if required.
Using a filing cabinet either small or large, also helps keep all your paperwork in one spot and for easy access to recall if required.
Having an organised method of storing your paperwork not only helps you find things easier, but also for your
accountant or bookkeeper if they require.
It's easy, just to give them your concertina file or folder, and you will have all the information that they need at their
Your highly experienced bookkeeper will help you get the most out of your business and accounts.
So, if you need any help, please contact myself, as per website contact page.