TUESDAY'S CFO TIP - ORGANZING YOUR FINANCIAL RECORDS

Welcome to today's easy CFO tip, to help you organize your business financial records.

Today's tip is about setting up file folders for your business for 2012.

This past weekend I created 2012 file folders for my businesses financial records and my clients.  I picked up manila folders and I have a label maker and I created labels for:

Checking statements

Savings statements

Credit card statements for

            American Express

            Bank of America

A/P paid

2012 Deposits.

I made it easy by placing my business name at the top and then placed the description below.

For example:

Financial Mapping LLC (Insert your business name here)

2012 Deposits

An additional tip for deposits, photo copy the deposit slip and bank checks received before taking it to the bank.  Tape or staple the bank receipt to the photcopy  confirming the deposit was made, and stick it in the folder.  Anytime you have a question for a spcific customer payment you are able to go to the file folder.

Also any payment received from third party vendors, such as PayPal or a credit card company, print off the receipt and place it in your payment folder.  You will then have all deposits in your account nicely organized.

Make sure to add a tick mark or some type of indicator that you entered the deposit in to QuickBooks.

This was Tuesday CFO tip.  Was this helpful and easy?

Leave a comment, question or suggestion to let me know what easy financial tips you would like to hear about at the bottom of this blog.

Debbie Rosenfelt

Chief Heart Officer