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 $5.
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Hey, it's Finance Friday and today's business tip is for anyone out there (which I'm sure isn't you) who is throwing all your business 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 going to show you today how you can quickly sort your business 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;
So that's your six folders and what we do is, simply put your receipts and documents in the right folder when you would normally put them into your shoebox. Now when it gets to the end of your quarter or your year end you hand over the documents to your accountant or bookkeeper and it's already sorted for them.
This is going to save them a tonne of time but more importantly, it's going to save you money!
So that's Finance Friday, I'm 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.