Best strategy to keep accounting records and efficient bookkeeping

[Kalada]

Hi,

How do you all keep your accounting records? I mean, how do you keep all your invoices organized by month, etc.

Not sure if I'm being efficient on the way that I do but I always lose some commercial businesses or I need to keep them in mind all the time.

 

[Nutso]

I usually file (online now) by month in alphabetical order of supplier. It's easy to find something if you need it.

 

[jim]

File expenses by category of exp and by month (electricity, insurance and what have ya).

Keep invoices for purchases of fixed assets seperate.

File invoices issued (sales) by month

 

[peemac]

Get an accountant that specializes in small business and put everything in an envelope and give to them every month.

If you are like me and have a distain for paperwork, it's the best option.

Not expensive either.

 

[Donalanseo]

Wave: Small Business Software - Wave Financial

Create beautiful invoices, accept online payments, and make accounting easy—all in one place—with Wave’s suite of money management tools.

www.waveapps.com

I use this and it's very good and free.
Photos of all receipts and relatively easy to use.

You do need to be in some way accountancy minded and it does not work for payroll.

 

[bbari1]

Get those A4 dividers by Alphabet and put them in lever arch files, put invoices alphabetically by supplier name.
Depending on the scale of your business, have a leaver arch file for each month/2 month/quarter/6 months or for each year