Like most people that own businesses there is another thing that they just dread doing-Purging the years files. Whether it is on your computer or the file folders, you just do not want to do it.
I know I hate it. I have started very slowly pulling files to start the year over. What a hassle.
You have to pull the file and then make a new one. Luckily this year I stocked up on file folders so I can just sit by the filing cabinet and pull one and make a new file then file it.
After this is completed I have to run all my end of year reports. Actually read them too. That takes me a couple of days to finish. It is no wonder that people do not like doing this. I call it monkey work.
Has to be done though. If you do not you have a mix up of all years and looking for something is a royal pain.
I usually have a nice packing box that I label for the year. Then I put it in storage after the taxes are completed. I then keep them 7-10 years. Never know when you will need those account and info.
My shipping receipts have their own box due to the over whelming amount I have at the end of the year. Now, I have a system of throwing them in a box big enough to last the entire year. Not very organized but I have the end of year report for all the info so those receipts are just a back up really.
Only a few more days until it is officially time to start pulling!