Chapter 17
Record Keeping
What Filing System Should I Have?
Many of a company's documents will pass through your hands, so you need an efficient system for categorizing and storing it. Here are the most critical systems you should have in place:
- Human resources files. If you are responsible for employee records, then create a separate folder for each employee, and store these files in a locked cabinet.
- Payroll files. Obtain an expandable file that is sequenced by date, and store payroll update documents in it on the dates when you plan to process payroll. After you have made the updates in the payroll, move these documents into the human resources files, stored by employee name.
- Customer files. Store a duplicate copy of each customer invoice by customer name, subindexed by invoice date or invoice number. You should keep these records nearby for the past year in a filing cabinet, since you will access these records repeatedly as part of your collection activities. After one year, you can shift these records to off-site storage.
- Supplier files. Obtain an expandable file that is sequenced by date, and store supplier invoices in it on the dates when the invoices are due for payment. After you have paid suppliers, move these invoices into a filing cabinet, and store them by supplier name. After one year, you can shift these records to off-site storage.
- Cash files. Store all bank statements, deposit slips, and bank reconciliations by month in a filing cabinet. After one year, you can ...
