Control Finances and Documents
Whether in the office or at home, organizing financial documents can be challenging. Keeping your records organized reduces stress and helps you compare expenses or find a receipt. It also improves customer service by enabling employees to easily access documents and resulting in faster responses and improved compliance.
The first step is to collect all the papers you own. Examine your kitchen counters, entryway tables desks for your home office, car trunks, garages, and any other place where papers are likely to accumulate. Remove clutter and discard unneeded materials such as catalogs product manuals, bills, and empty envelopes. Create categories to sort and organize your remaining documents. For instance the “To Pay” category could include an array of invoices that have to be paid using cash or online. A “To Read” category could contain items that require a quick review and may be shredded or filed after reading. A “Needs Actions” category is for items that require immediate attention, like charges from credit cards and insurance claims.
After organizing your documents, you should take into consideration the options for storage. Physical methods include using a binder or filing cabinet as well as the storage of files in offsite facilities. Digital methods typically involve utilizing an industry-specific document management system that offers a single, centralized storage and organization of documents. These solutions are highly secure, granting granular control of who can access or modify information, and also provide audit trails for transparency and accountability.
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