Three Easy Steps to Year End Records Organization

bankers box year end organizing

As the new year approaches, tax time may be the only thing on your mind, but taking the chance to reorganize can help you feel more in control and ready to take on your taxes. Here are three steps  you can take to get yourself organized and ready for 2017.

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Purge

Files becomes disorganized mostly because we are afraid to throw things away. To make this step easier, make two piles-definitely throw away and maybe throw away. Any files 7 years or older can be thrown. If you are not sure about a particular document, keep it in the maybe file for now.

Restructure

The structure of any file system is not set in stone. We all have special areas of our business that need files and no set template is going to be completely satisfactory. After the purging stage, your current filing structure may be just fine. However if you do need to rethink your system here are some questions to ask yourself:

 Are Current File Categories Growing too Big?

For example you may have started a file entitled employees, only to find that current employees and past employee records were making the file too massive. Breaking down a single category into sub files can take the burden out of one file.

The same question can be asked in reverse. Are there some sub-category files that you thought would grow, but may only contain a few documents. You may want to merge this file with another smaller category to keep things  from getting too complex.

Remember that maybe throw file? Go through it now to reconsider the documents you may want to keep. In light of a new file structure, some might get filed in new categories or simply tossed once see with more organized insight.

Archive

Finally, it’s time to archive your files from around two years ago. Clearly label your boxes or drawers with the date.  Leave out last year’s documents to get ready for tax time. You will feel a sense of relief knowing you are not only ahead of the tax season, but also completely organized before the first Christmas party invitation.

 

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