Information Management

Time marches on! Most of the year is already gone -- but it's not too late to organize your records for this year. Why wait until next April and then spend all your "spare" time finding and filing paperwork or compiling figures to deliver to your tax preparer? Procrastination can result in physical and emotional pandemonium!

FILING SYSTEMS

A fundamental guideline for filing systems is to maintain all records for the current year in nearby file cabinets, and your previous years' accounting can be divided by tax years, and set aside in portable archive storage boxes. All income and expense records should be categorized in 3-cut file folders with color-coded labels.

For more convenient record-keeping on bookshelves, 3-ring notebooks with divider tabs can be labeled to identify specific data. Issuing checks, rather than paying cash, provides a simpler record-keeping system. A functional file box for checks furnishes effortless, attainable documentation of your deductible expenses.

RECORDS RETIREMENT

Business and personal data need detailed filing systems and must keep specific records for a longer amount of time. Just to name a few: income and expense records, bank statements, tax returns, investment material and contracts. Contact your tax preparer for decision-making on deductions and important tax-related matters. Save your check registers and datebooks too.

DETAILS

When your check register shows itemized expenses, posting to an accounting system is easier (supplies, postage, insurance, rent, etc.). I'm a fan of Quicken and QuickBooks, and there are other great
programs available.

By making a notation on invoices of your check number, date and amount paid, there is a validation of your payments. All deductible receipts should display "what, when, who and why" and should be recorded by expense category in the monthly breakdowns.

WORKING SMARTER

Getting organized can sometimes feel overwhelming, however, there is always a solution to each situation. By breaking down each project into smaller tasks and setting aside time each week to do them in a
relaxed atmosphere, organizing paperwork can be less stressful.

Of course, hiring help in the reorganization of your office or work space is another solution. A skilled Professional Organizer specializes in this service. In a few short hours, records are categorized and color-coded systems are set-up for efficiency and management ease.