Tips in organizing financial papers:

  • If computerized, enter the expense receipts into your money management software, and then file the receipts away in an Expense Receipts file.
  • Always reconcile your records when you receive your bank statements.
  • Set up a filing system with accounting files together in one category. Keep expense receipts, paid bills, credit card expenses, banking statements, invoices, income records, income tax returns, and any other accounting documents in clearly labeled files in this category. This makes pulling financial records and archiving end of year finances an easy task.

If you’re wondering how long you need to save financial paperwork, check out this: 

“Business Record Retention Guide.”