How you organize your business’ paper files can be quite a time saver and productivity producer. How many hours per week does someone in your office spend looking for papers? According to research, we spend 4.3 hours looking for paperwork per week.  That’s almost an hour a day! It’s important to stay organized for many reasons. Keep your small business organized by using our organization solutions.

  1. All payroll related documents – The experts suggest keeping employment records for a minimum of two years and no more than seven years.
  2. Corporation paperwork – Depending on the type of corporation, you may be required to provide paperwork annually for tax purposes.  Have these papers filed and ready to go for the next tax year. Save time by not having to search for them.
  3. Employee personnel files – Keep these files for a minimum of two years, recommends the experts. Just as with the payroll related documents.
  4. Checkbook and any financial statements by year – You never know when you have to prove that a payment has been made and having all this information in one spot is a sure fire way to save time looking.
  5. Insurance documentation & policies – In case of emergency, knowing where to find your coverage will make the claims process easier.
  6. Petty cash on hand and tracking sheets – Keeping petty cash balanced and knowing where your petty cash is being paid out helps keep you organized.
  7. Online login and information and passwords – It’s a good idea to have this information available on paper or flash drive in case of a computer crash or you need to access information while away from the office.
  8. Accounts receivable and payable documents by year – Being able to go back and look through payments out, or in, is a breeze when you have them filed away by year.

 
Some additional information about your business should always be available and on hand in the event of your absence. Keep all your items in one place and create a business LifeBook. Make it accessible to key personnel in your business. This information should include the following.

  1. Advisors for business
  2. All banking, investments and credit card information
  3. All insurance information
  4. Bills to pay
  5. List of automatic payments
  6. Where to find important documents
  7. Description of exit plan

 
Keeping all your records and essential information organized and easily accessible in the event of your absence is key for those left behind to run your business. Getting all your business records in order and organized can be a big job. If you need assistance, please call our office and let’s schedule a consultation to see how My Confidant can help you organize your business.

Leave a comment

Your email address will not be published. Required fields are marked *