If you're shoving business receipts into a shoebox for your accountant to sort out, it's time to get organized! Making your accountant organize your receipts is costing you money. In this video I share a simple tip for filing receipts that's just as quick as shoving them in a shoebox but won't cost you more than $15.
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Hey, it's Finance Friday and today's business tip is for anyone out there who is throwing all your receipts into a shoebox and leaving it for your accountant or bookkeeper to sort out.
The time they take to sort through that shoebox of receipts, put them in order and marry them up to the appropriate documents is costing you money, they don't do that for free.
And so, I'm gonna show you today how you can quickly sort your receipts without taking any more time than you normally would instead of throwing it into your shoebox.
The first thing I want you to do is buy six folders, just like this one. So you can see they're just the normal paper folders.
And I want you to write on each one the following; one is gonna say, sales, one will say paid by credit card, paid by debit or check, government documents, accounts payable and I forgot my -- oh and bank statements and check stubs.
So that's your six folders and what we do is, simply put them in the right folder when you would normally put them into your shoebox, you're gonna put them into the right folder. So when it gets to the end of your quarter or your year end, you handover your documents over to your accountant or bookkeeper and it's already sorted for them.
It's gonna save them a ton of time but more importantly, it's gonna save you money.
So that's Finance Friday, I am Trudy Murphy; you can find me at trudymurphy.com. Come on over, leave me a comment. Let me know that you've enjoyed this or any of my other posts or let me know your own advice, I'd love to hear that. And sign up for my emails, I do Finance Friday tips every week plus other business posts. Come on over and I'll talk to you soon.