Idiots guide to managing small business paperwork

Eliza_2

Can anyone point me to some sort of guide that will help me manage paperwork? Up till recently I had everything in one file, more or less, but now it's outgrown that. I now have 2 files but their contents seem to overlap each other. For example I have some bank details, including background info, in one but statements seem to have landed in the other..I have a business premises so have bills for utilities etc (do rates count as utilities or bills or premises?) I just don't know how to classify everything and end up going through the lot just to find the rates bill for example.

We don't issue invoices so thankfully don't have to deal with that (mostly cash, cheque and card payments in.) I seem to have tried several systems but none work properly. I tried having an accounts file, but there's too much overlap with the premises file or the utilities file, then tried something else and so on. I'm really rubbish and there's now too much to keep in my head.

Can someone help me with some file headings or ways of classifying please. Something I can also apply to all the stuff on my computer too would be good.

Thank you so much

accountingbod

I would go with the following folders...

1. Bank statements and recs (including paperwork relating to monies in like remittances and cheque paying stubs etc...)

2. Purchase Invoice folders ordered alphabetically. That way as long as you know who yo upay then it's easy to find. you could split A-F and then G-M etc.. or whatever split you need.

3. A folder for all company information eg... communications from HMRC, company formation stuff etc...

4. A folder for statements from suppliers in another folder ordered alpahabetically.

and so on...

Alphabetical is good. If they get full up ,then start a new folder for the same category for the second half of the year for example or split over more folders...

this is what i would do.

hope that helps..