You may not be able to get rid of all the paperwork for many reasons, but you can take control. The key is to get organized. Setting up a filing system is one step to help you acheive this goal.
Business files need to be kept separate from your personal records. Setting up a filing system for your business will
- make filing taxes easier
- help you access records and receipts when you need fast access to them
- give you peace of mind and keep you organized
Once you make your decision, gather all your supplies and start your journey. For the most part, this should take from 1 to 3 hours of your time.
Step 1. Using a Label Maker- Gather label maker and begin making labels for your hanging file folders. You will need to categorize your income and expenses for easy filing. I will supply a list of suggested categories later in the post.
Using Handwritten Labels-Gather your Sharpies and labels and begin making labels for your hanging file folders.
Business File Folder Suggested Categories List
Business Income (Divider)
- Other Business Income (Non-Sales Related)
- Purchases (for resale)
- Other Costs (Seller Fees, Shipping Costs)
- Car/Truck Expenses
- Contract Labor
- Employee Benefit Programs
- Insurance (Other than Health)
- Cancelled Debt
- Rental Property (Vehicles, Machinery)
- Repairs and Maintenance
- Pension/Profit Sharing
- Office Expenses
- Office Supplies
- Travel/ Meal & Entertainment Expenses
- State Sales Tax
- Taxes & Licenses
- Merchant Account/Credit Card Processing Fees
- Website Hosting Fees
I welcome your comments on this post. I would love to hear your thoughts. Post suggestions and join us by becoming a friend. Before you leave, I would like to recommend some products that I believe will assist you in getting started and on your way.
Filing And Storage Soluitions at Office Depot.
Once again, it is a pleasure to blog with you. I look forward to your visits and comments. Have a prosperous week until next time on Sarah's Super Center Blog Spot
Sarah's Super Center Blog Spot Manager