This Year Don’t Make Piles – Make Files

January 2nd, 2009 by Kelley · No Comments

Well 2009 is here and after I got home from running errands today I realized I hadn’t made my new year files. I usually do this weeks in advance of the new year but somehow it just got away from me.

There are many different ways to set up your files and I actually use two different methods; one for personal and one for business. My yearly personal filing system is really easy. I use just thirteen file folders with a label each month and one for bank statements. I scan most of my paperwork in digital form but I always keep my original bank statements, ATM and credit card receipts until the statements come in, receipts needed for warranties, receipts for charitable tax deductions, copies of rebates I have applied for, and anything else I think I may need the original of.

Here is the process I use is for my nearly paperless office:

Once per week I take all of the receipts and paperwork that I have accumulated and scan them and name them according to the naming conventions I talked about in a previos blog post.
I open my accounting software and enter the transactions.
I shred all of the cash and check receipts unless I need them for a possible return or for warranty reasons.
I put all of the receipts for credit card and debit card purchases in the appropriate monthly folder to hold until the credit card statements and bank statements arrive.
When the statements come in, I scan them then match all of the receipts to them. If there are no discrepancies, I shred all of the credit card receipts keeping only ones that I need for tax deductions, warranties, etc.
Once I pay the credit card statements I shred them too.
I keep the bank statements in the folder I set up just for these statements.

This whole process takes approximately 30 minutes a week for my personal filing and everything is easily accessible since I scanned it.

Your Daily 15 – Today go and get a box of file folders and file labels if you want them. Write, type or label the folders with the name of the month and one for Bank Statements.

Making folders will get you on track to organize your paperwork. Even if you aren’t scanning your receipts, you can put all of the months receipts in the appropriate folder and have everything in files, not piles.