How to Keep Business Records Organized

How to Keep Business Records Organized

How to Keep Business Records Organized

Different ways keep records organized

No matter what size your business is, record organization is often the key to successfully running it. When it comes to storing your records, you should find ways to efficiently keep and store multiple copies, both physical and digital

Organization of records can be as simple as sorting them into different folders. At very least, have five main folders to store records for each important aspect of running your business. These five categories include:

  • Sales
  • Receipt
  • Permanent
  • Payroll
  • Misc.

Sales

This folder should be used to store any inventory records and sales made. If you want to get even more organized, create separate folders for each major client and store them by each month. This way, if there is ever a problem, or you need to see which whose sales are beginning to dwindle, you have the numbers in a well-organized system.

Receipts

One of the most important systems to set up is receipt record organization. In your receipts folder, create a sub-folder for each vendor your pay regularly – vendors who keep your business running well. Keeping these receipts up-to-date This assures you can quickly clear up any discrepancies and pay your vendors efficiently.

Permanent

Typically, this folder doesn’t need much organization other than storing permanent records you need to track. This folder might contain your licenses to last year’s tax forms. If it doesn’t change on a month-by-month basis and you may need it in the future, store this folder in your permanent folder.

Payroll

Keeping a visible record of each employee’s payroll and their timecard is a valuable time saver. You can also go above and beyond by also creating sub-folder inside of each employee folder that stores their W-4, copy of their original job description, evaluation forms, or disciplinary notices. This way you have everything about a particular employee in one spot should you need it.

Misc.

This folder is relatively self-explanatory. If you have something that you think you might need to keep, but it doesn’t fall into any of the above, it can go into this folder. Try to keep it organized – a “miscellaneous” folder can get disheveled easily.

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