Dealing with paperwork and staying organized is a large (and sometimes daunting) part of running a small business. Everything you do in your business generates a trail of paperwork that can easily become overwhelming when it’s not kept at bay. Keeping this side of your small business organized is critical to efficient and accurate bookkeeping.
If you’ve jumped into the digital world and you have computerized your paperwork you may not need to keep as much paper but you still need some sort of paper trail in case something happens to your computer records or you need to back something up at a later date.
Here are a few suggestions for how to organize those pieces of paper and separate them into a logical and efficient format. This can be in old fashioned folders in a filing cabinet or folders on your computer (or both).
You may want to get even more organized with your hard copy Bookkeeping Records for Accounts Receivable and Accounts Payable:
Note: It is advised to keep payroll and personnel files locked or at the very least, not in a place that is accessible by others.
One of the most popular questions we get is: How long do I have to keep my tax returns and other business related documents?
Answer: Tax returns and receipts, in case you are audited, must be kept for the current year and six past years. In other words...
Organized, accurate bookkeeping is crucial for any business. You must keep a complete record of all your income and expenses. We can help you maintain your financial records and keep you organized – let us deal with the stress!
If you haven’t moved “up to the cloud”, we can help you organize all your records digitally. Call us for a free consultation…
If you love technology and have everything on your computer – we can help you get your bookkeeping and accounting done efficiently and accurately.
At Green Quarter Consulting - Accounting and Bookkeeping Services for White Rock, South Surrey, Langley and Surrey BC, we are here to help. We can assist with guiding you through some of the Triggers and Red Flags that can bring about a CRA Tax Audit.