Best filing Practice for Small Business Owner
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C & K ACCOUNTANTS PTY LTD
Suite 208, 160 Rowe Street Eastwood NSW 2122 Tel: 02 9858 1988 Fax: 02 9804 0182 ABN: 67 111 673 940
Best Filing Practice for Small Business Owner
An effective and efficient filing system is not about compliance only, it also increase your work efficiency and productivity. 1. Analysis your needs What are the files? Invoices, bills, receipts, quotations, marketing material, projects or general business administration related; Who will use the files? Just yourself, or you need to collaborate with your partners, bookkeepers. How often are they used? Daily, once off, on-going; Separate files by type: current working files or permanent storage or archival files; What is the size of the files? A4 - into normal folders; smaller one - into plastic pouches or envelopes; 2. Setup working area and storage area based on file type and workflow; Organizing files by following functions and types and making good use of organizers, dividers and drawers, and also arrange sequence as: alphabetical, numerical, subject or chronological based on purpose: General items: pen, stamps, clippers, staples, all those stationery and various items; Sales invoices: separate unpaid and paid invoice as two sections in numerical sequence: invoice numbers; Purchase bills: unpaid bills/paid bills in alphabetical sequence; Keep unpaid bills in working/action area; Paid bills will be moved into storage area; Receipts: cash receipts/credit card receipts, will be summarized and attached to each month or each quarter’s summary; Quotations: after quote is accepted, transfer to either project or invoice; Purge/archive invalid quote monthly/quarterly; Orders: keep track of ongoing/open orders, also regularly purge/archive; Projects: put together projects related files, purge/archive after finishing project; Marketing material: marketing campaign and promotion’s planning, execution and review, also regularly purge/archive; 3. Purchase folders, dividers, separators and storage items There are various folders and storage items on market, the best way is to keep your needs and actual working/storage area in mind, walk into stationery store and choose items fit: Colored suspension folders with plastic label tabs and also the paper inserts; A4 manila folders with tube clips; Colored board lever arch A4 file folder with color dividers or A to Z dividers; Plastic pouches for small receipts or other sized files; Multi-layer file organizer; Drawer cabinet with (colored) suspension file folder and label tab; Shelf cabinet combining with board lever arch folder; Make good combination of drawers, dividers, folders, shelf cabinet and drawer cabinet to file your documents in your efficient way.
This is condensed version, for full article and more small business tips, please visit www.easysmb.com.au/productivity
Suite 208, 160 Rowe Street Eastwood NSW 2122 Tel: 02 9858 1988 Fax: 02 9804 0182 ABN: 67 111 673 940
Best Filing Practice for Small Business Owner
An effective and efficient filing system is not about compliance only, it also increase your work efficiency and productivity. 1. Analysis your needs What are the files? Invoices, bills, receipts, quotations, marketing material, projects or general business administration related; Who will use the files? Just yourself, or you need to collaborate with your partners, bookkeepers. How often are they used? Daily, once off, on-going; Separate files by type: current working files or permanent storage or archival files; What is the size of the files? A4 - into normal folders; smaller one - into plastic pouches or envelopes; 2. Setup working area and storage area based on file type and workflow; Organizing files by following functions and types and making good use of organizers, dividers and drawers, and also arrange sequence as: alphabetical, numerical, subject or chronological based on purpose: General items: pen, stamps, clippers, staples, all those stationery and various items; Sales invoices: separate unpaid and paid invoice as two sections in numerical sequence: invoice numbers; Purchase bills: unpaid bills/paid bills in alphabetical sequence; Keep unpaid bills in working/action area; Paid bills will be moved into storage area; Receipts: cash receipts/credit card receipts, will be summarized and attached to each month or each quarter’s summary; Quotations: after quote is accepted, transfer to either project or invoice; Purge/archive invalid quote monthly/quarterly; Orders: keep track of ongoing/open orders, also regularly purge/archive; Projects: put together projects related files, purge/archive after finishing project; Marketing material: marketing campaign and promotion’s planning, execution and review, also regularly purge/archive; 3. Purchase folders, dividers, separators and storage items There are various folders and storage items on market, the best way is to keep your needs and actual working/storage area in mind, walk into stationery store and choose items fit: Colored suspension folders with plastic label tabs and also the paper inserts; A4 manila folders with tube clips; Colored board lever arch A4 file folder with color dividers or A to Z dividers; Plastic pouches for small receipts or other sized files; Multi-layer file organizer; Drawer cabinet with (colored) suspension file folder and label tab; Shelf cabinet combining with board lever arch folder; Make good combination of drawers, dividers, folders, shelf cabinet and drawer cabinet to file your documents in your efficient way.
This is condensed version, for full article and more small business tips, please visit www.easysmb.com.au/productivity
