Simplify Your Records Management

If you enumerate all the things you have to keep track of when running a small business, you'll realize that you need the right records management system in place in order to stay on top of everything.

As with many businesses records management is usually at the bottom of the list of priorities. If you had a crystal ball and could look into the future, you'd see the benefits of a records keeping plan, and you wouldn't hesitate in making it number one on your to do list.

Here, we'll give you a few ideas on how you can simplify your life. After all, if you own or run a small business, it's likely you spend most of the day at the office and not at home.

So start by realizing that taking , records management seriously will help you when tax season rolls around. Most novice business owners make the mistake of comingling funds and this can be troublesome. The best word of advice is to separate your personal life from your work. Start by opening a checking account for your business. It should be separate from your personal account. Try to pay for all expenses using a check or business credit card. If you use your car for work related matters for instance, make all maintenance and automobile payments with your company's checks.

Create individual files as part of your records management strategy; i.e. a file for the car repair invoices and payments; another one for bank statements, and so on. This will ensure you find what you're looking for at the time when you need it.
And keep in mind that by having invoices, checks and receipts in one place, you won't have to worry about producing them in the event of a tax audit.

Assign the task of maintaining and retrieving records to an individual; or opt for creating a department that handles such. Decide on records management policies from the start and adhere to them in order to maintain order. Make sure the people handling these tasks are knowledgeable enough to understand the awesome responsibility at hand. Opt for having a workshop or bring someone in to train your staff. Make certain they address record keeping regulations and the benefits of properly storing and disposing of documents.

An office that is well organized functions efficiently.