REDUCING PAPER IN YOUR LIFE

Cut down on the number of bank accounts you have.

Reduce the number of credit cards you have to one card for personal use and one for business use.

Cancel some of your more obscure magazine and newspaper subscriptions.

Pay any bills you can by automatic deduction.

TAXES---

Store tax forms in a single large pocket folder. Categorize your bills and invoices using envelopes.

Make categories that are appropriate for your situation.

Subcategorize things like credit card bills into VISA bills, Mastercard bills, Discover bills, American Express bills, etc. The more you subcategorize the easier it is to find and to document later.

Label and date the outside of all envelopes.

Put the pocket folder along with all your envelopes into one larger manila envelope (remember to label it with your name and the year) and submit it to your tax accountant.

When you get it all back, file the large manila envelope with the most recent year first. Most tax returns and documentation only need to be kept for seven years. Some businesses and professions need to maintain their records indefinitely. Check this out before tossing your tax records.

HOME BUSINESS RECEIPTS---

Keep your business expenses / receipts in a separate area from your household files.

These might include auto repair and maintenance, business entertaining, computer equipment and supplies, continuing education, gasoline, office supplies, parking, photocopying, professional membership fees, publications, rent, telephone, etc.

Create separate folders or envelopes for each category of business expense.

Place each receipt or bill in its own folder or envelope immediately as it comes in.

Every time you put a paid receipt or bill into its folder or envelope write down how much was paid on the front of each envelope or folder.

For tax purposes simply add up your business expenses which are listed on each folder or envelope. Submit a list of expenses to your tax accountant. You won't have to pay them to go through all your receipts.

FILES---

Staple papers together instead of using paper clips because paper clips often get caught on other papers.

Never keep entire magazines in a file. Look for any important articles, cut them out, staple the pieces together and file them in a binder or folder.

Store your valuable papers in a safe deposit box or a fireproof safe.

Keep your filing system updated regularly.

CHANGE YOUR HABITS---

Don't let even one day go by without making time to put things into their proper places.

File or pay bills right when you get them. Don't put them down to get lost in the shuffle. Respond to invitations and notices as they arrive and mark any dates on a calendar immediately.

Open your mail at a set time and near the trash can and toss what you don't need. Keep making those tough decisions about what to keep and what to throw away.

Marsha Beckford helps professionals and small business owners who want to get organized but don't know where to start. Her company is Organize Central. Visit her website at: www.organizechentral.com or call (403) 276-4487.