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Simple Bookkeeping Filing System for Small Business

Updated: Apr 9


Bookkeeping for small business includes keeping invoices, receipts and documents filed and organized. The following system is suggested.

A simple system to keep source documents organized:


  • Keep a small receipt holder in your car: Keep this for loose receipts/invoices when your out and about. Remove the accumulated receipts/invoices each week or month and file them in your main filing system.

  • Keep a banker box or accordion style folder: Label a section for each month and file receipts/invoices by date. It is a good idea to have a section for each of the following as well:

  • Bank statements - Separated by account

  • Credit card statements - Separated by account

  • Payroll - Separated by Employee

  • Tax - Payroll, Sales, and Income Tax

  • Keep Loan documents, and Asset purchase receipts, as well as supporting correspondence in an easily accessible file.

  • Create an email address or folder for emailed receipts: Many retailers provide the option of an emailed receipt. A dedicated email address for receipts is a good idea, especially if purchases are made by multiple parties within your organization.



We suggest the following for organization:


Good Reasons to Stay Organized for 2020:

  • Possible lost deductions: It is likely important receipts will go missing or get destroyed if not filed promptly.

  • Reduce the cost of organizing a year of documents: When you hand a bookkeeper a box of receipts, consider the additional cost of getting organized last minute. Is it worth the hourly rate for someone else to do it?

  • Eliminate last-minute panic: Filing late, means paying more than you need to in penalties, and a rushed job, no matter how carefully done is more likely to incur errors.

  • Stay on top of your finances: Up-to-date and organized books are the key to making solid business decisions.

ProStrata-G Certified Quickbooks ProAdvisors can help you get started or get caught up on your bookkeeping. Call today to book an appointment. Don't forget! We come to you! www.prostratag.ca or 204-505-1344.

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Published by Status is onlineMelanie MeilleurSmall Business Bookkeeping ExpertsPublished • 1mo10 articles

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