Paperless: Business Edition

One of the top questions I get regarding my paperless lifestyle is about business paperwork. When we are talking about personal paperwork, many times what you decided to keep or toss is a personal preference. However, with business paperwork we have to be careful and typically we want to err on the side of caution. The good news is this. You can be paperless with your business!

The tips I am going to give you today can be used for any business whether it is a small business, personal side gig, or a church. I am sharing with you the way I take care of these papers. 

Of course, we need to remember this: I am not a tax professional or accountant. I am only sharing with you what I do personally. Please consult your tax professional or accountant before you make major decisions. 

1. Receipts.
   Receipts can take over our life if we let them. If you are using a receipt for a business expense or for tax purposes, you need to keep it. Scanning your receipts in is actually a lot better than just keeping them in a box. Go back and look at receipts from even just a year ago and you will see that they are starting to fade. In a few years you would never be able to read these. By scanning them in and saving a digital copy, you are saving the integrity of that receipt.

2. Monthly Files.
   In order to make my life easier, I save my business paperwork by the month. I have 6 file folders that I have labeled with 2 months. January/July, February/August, and so on… I do not keep my scanner out all the time, so I file all business paperwork that I need to keep in these folders each month and then every 2 to 3 months I sit down and scan everything.

3. File Name.
   I save each item in that file by the month. For example, a hotel receipt for March of 2022 would be saved as 2022_03 Event Hotel Receipt. (The word “event” is used, but put the actual event in the place of that.) Save your files according to the name you would think of to search it. I have found that by naming my files by the month first it makes it easier for me to locate what I need down the road.

4. Digital File Folder.
   I often get asked how I file these digitally. First, I put everything in a folder labeled for that year and month. Then, throughout the year I place each of these monthly folders into one folder for the year. This cleans up my folders and also makes it easier to find what I need if I need to go back and locate it.

5. Hard copies.
   I shred or throw away over 99% of my paperwork after I scan and save it. However, there might be a few things you need to keep the original paper copy. This might include business license, any notarized document, or any other item your tax attorney requires. Again, be sure to ask before shredding important documents.

If I had to keep the actual paperwork for the business and church things I do the finances and filing for, it would be overwhelming. We would need a very large filing cabinet or storage system. I would likely need to pay for storage. But there is good news! All of this fits in a small external hard drive. 

I have quite a few businesses and churches I have consulted with that decided to go paperless and the feedback I have received is great! They are loving it as much as I do! Are you going to try out going paperless with your business?

If you want to hire me to walk you through this process, click the link on my website titled “work with me.” I would love to help you!

What questions do you have about going paperless as a business or church?