Don’t you absolutely hate having to keep records and receipts every minute of the day?
It can become a really tedious chore having to remember how much things cost, what you spend money on (especially when it comes to cash.)
How about sales? Do you have a system in place to accurately record all of your sales, how about your returns?
If this is making you a bit anxious have no fear because I’m going to show you three simple methods that you can use right now to organize your business record keeping (plus it also works in your personal life as well.)
Method # 1 – The Envelope System
This is a simple but massively effective system that I use to capture any and all receipts. It can be used either for your business or for never missing a red cent that a company owes you on an expense report (If you are still gainfully employed by someone else.)
The gist of this system is keep an envelope with you at all times (can be in your jacket, your briefcase or laptop case, your car or your office) what ever works for you. I use plain white (non-windowed) envelopes. Each time I get a receipt, I flip it around and write a brief description on the back of the receipt (So I don’t forget in a week what exactly it was for.) I write who I was with if a T&E type of receipt. (like a meal)
Just quickly write whatever info will help jog your memory.
Next I place the receipt in the envelope. I use a separate envelopes for each month. So on the outside of the envelope I put the month (March 2011 for example). Then I continue putting all receipts in the envelope. I add …» Read more