Keep your home-based business filing system simple | Home-Based Business Opportunities
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by: doramoore
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Date: Fri, 14 Oct 2011 Time: 2:15 AM
Keep your home-based business filing system simple
In a business filing system, there are certain common files that are present. Here are discussed some basics from a home office or small business perspective. These may be to general or to specific for you, depending on the nature of your business and you can vary the information to suit your personal needs. But always remember the “keep it simple” principle. Just to house only a few files, you don’t need a complicated or costly system. For your own benefit, the information contained in your files should take about 30 seconds to find. Customize your system according to your business and work style. Keep the files you use most often closest to your desk. Put archives or files you don't use often in another location.
You will notice that some file titles seem to be repeated, like Web site(s) under Marketing and Domain Names under Expenses. The distinction here is that you would put items related to Web site content and design under the Marketing file, and invoices for hosting and domain name registration under Expenses.
Clients/Patients/Customers
Last Name, First Name
o Contact information
o Personal information (if required)
o Projects - On going (if required)
o Projects - Completed (if required)
Expenses
Accounting
Advertising
Business licenses, fees (government fees, local and provincial/state fees)
Computer
Computer equipment - hardware (printer, scanner, PDA, mouse, router, microphone, speakers, etc)
Consultant Services (business coach, organizing coach)
Contracted Services (virtual assistant, sub- contractors, cleaners, etc.)
Domain names
Employee Benefits (medical/dental, insurance, RRSP, 401K, etc)
Insurance - business/office property
Insurance - professional liability
Interest and Bank Charges
Legal
Library
Maintenance and Repairs (or Leasehold Improvements if you rent)
Meals and Entertainment
Office Equipment (telephones, fax machine, calculators, shredder, etc)
Office Furniture (desks, chairs, lamps, radio, book cases, etc)
Office Supplies (stationary, pens, labels, file folders, etc.)
Postage/Courier
Property Taxes
Travel
Utilities
o Cellular phone
o Telephone
o Fax line
o Internet connection
o Heating/Lighting
o Rent
Vehicle expenses
o Fuel
o Repairs and Maintenance
o Insurance
Directories
Business Guides from local Chambers of Commerce
Supplier Directories
Trade Directories
Financial
Accounts Payable - Current
Accounts Receivable - Current
Accounts Receivable - 30-60 days
Accounts Receivable - 60-90 days
Accounts Receivable - 90-120 days
Accounts Receivable - In Collection
Balance Sheets - Monthly
Bank or Credit Union Monthly Statements (store only 1 year in active file/retain up to 10 years worth, depending on Federal/Provincial/State laws)
Bank Loans (original loan papers, interest rates, amount borrowed, payment terms,etc)
Capital Cost Allowance Information (Canada only)
Corporate/Business Tax Returns (retain for up to 10 years, depending on Federal/Provincial/State laws)
Credit Card statements
GST/HST Forms (Canada only)
Income Statements - Monthly/Annually
Payroll Records and Taxes
State tax remittances
Tax Forms
Education and Professional Development
Include any courses you take that are business related, including seminar information, conference information, online courses, continuing education courses , staff development courses, etc.
Marketing
Advertising - Print
Advertising - Radio
Advertising - Television
Advertising - Web site
Advertising - Internet
Articles of Interest
Business Plan (review annually - archive old copies)
Information Package (about your business)
Press Releases
Trade Show Information
Inventory
Inventory Count
o by product name/number
Invoices/Statements
o by Supplier Name
o then ordered by Invoice Number
Suppliers
o listed alphabetically
o ordering/contact information at front of file
Memberships
Professional/Trade Organizations to which you belong
Boards on which you serve
Personnel Files
Each employee by Last Name, First Name
o resume/application form, tax forms (Canada - TD1), payroll records, information on benefits package (medical/dental, RRSP, 401k, etc)
o performance evaluations/reviews, disciplinary information, record of education provided by the company, etc.
o record of salary/wage rate, and notes on raises, Direct Deposit information (if you provide EFT)
Miscellaneous tax forms
Procedures Manual
Resumes/Applications kept on file for six months
Record of Employment forms
About the Author
Author is an expert small business. She has written many articles on education courses
