Can all you bookkeepers out there tell me if you sort and file your clients receipts & Invoices etc? If so how do you do it so that it isn't so time consuming and neat.
At present i currently attach an A5 piece of paper to each of mine with the details on, i also write on which account to post it to ie. Stamps to Postage. I only do this method as small reciepts from super markets seem to get lost when filling them in a A4 file when on there own. This way you can look at the A5 paper attached to it and it tells you who its to, what it is for and also has the totals on.
This way is a little time consuming, does anyone have any alternative ways?
I have a very large area of floor where I sort all receipts, invoices, etc. into date order (even my 5*3 surface area 1920's bank managers desk can't hack the space needed to sort even the smallest companies paperwork.
Receipts and invoices are cross checked against credit card statements and bank statements.
They are then divided down into months and quarters before I enter the details into the computer then print out monthly / quarterly categorised lists of transactions (with descriptions) and attach the receipts and invoies to those.
Probably just as time consuming as your method but thats the way I approach the year end carrier bag of receipts, invoices, credit card and bank statements, empty crisp packets, sweet wrappers, etc!
All the best,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I tend to attach small till receipts to a petty cash voucher but A5 paper will do.
I do not bother writing anything on it unless it is just a very simple till receipt, or car park ticket etc, with no detail at all and can't be hole punched to fit a lever arch file.
If it is a long till receipt, I file it, as is, just got to be careful where the holes are punched (see an earlier thread about the untrained and whole punches)
Where there are a lot of small bills, I file like with like.
For example, fuel bills. I sort them into months, separate payment method; bank, cash, cr card, examine them whilst adding them up (surprising how many spouse non-diesel vouchers you find for example), staple each month together with the additions on top, hole punch and into a lever-arch file. I rarely use PC vouchers etc and prefer it if clients don't.
I often use a red pen to write 'dwgs', 'post', 'phone' etc. Supermarket bills can contain legitimate expenses. I had a photographer who always used ASDA for developing/Framing etc.
Depending on the entity, not all bills need to be audited.
Not too keen on the floor, but I have a pasting table in the cupboard lol
Tim
-- Edited by Don Tax on Saturday 2nd of July 2011 09:48:31 AM
I don't spend any time sorting them out. I have a large paperclip, which use to keep them together adding each one as they are processed. Once I have enough I just staple them together. Unstapled means not processed! I do check p/l expenses accounts at the year end, looking for duplicate entries, incase duplicate receipts have been included. (!) I always process a receipt the date of the receipt, unless I'm in another trading year, and then I will put the original date in the description. This way I can check it has not been put through more than once.
I don't worry about writing the expense down as I know what clients spend their money on and where. (I've been doing it too long) - when I get something I'm not sure of, I just google it. If I can't figure out why they would need to claim the expense, I ask, usually by e-mail, so I can get it in writing for the future.
I spend even less time than that, all the little cash expenses get put in a plastic wallet for each month. I know I've processed it because it has the BB squiggle on it. Clients don't appreciate filing (or the time it takes to do it), if they did they'd know how to use hole punches, staplers etc in a responsible manner!
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Jenny
Responses are my opinion based on the information provided. All information should be thoroughly checked before being relied on.
I think it all depends on a client. I have one who wants me to spend absolutely minimum time on filing, I just write software generated reference number on them (it makes it easier for me if I ever need to find any receipt again) and then they end up in a box (in the same order as they were processed). Apart from that client I usually file them a bit the way Shaun does. Personally I really like things well organized, but as BudgetB said, clients very often don't appreciate it.
I don't know about you but I like everything neat and tidy for me regardless as to what the client wants, needs or appreciates.
I've always put it down to childhood dyslexia (which means you still have it but your brain compensates around it without you having to think about it). Everything has to have a nice neat place and a sequence as you can't remember where you put anything but you can remember where is should be.
It's definitely a mindset that is perfect for this line of work.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Don't get me wrong, my files are tidy, I just try to minimise the amount of time I spend on it. (I've been known to have staff training before on how to put things into the client files in a way that wont send me loopy!).
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Jenny
Responses are my opinion based on the information provided. All information should be thoroughly checked before being relied on.
BudgetB - I am sure your files are very tidy and I totally agree with you, when you say that clients don't appreciate filing. My client's files are tidy too even if they are in boxes... My client just doesn't wish to pay me for time spent on filing, so I do it the way he wants it to be done, at the end of the day it's his company not mine.
Shaun - I love everything neat and tidy too and actually I enjoy the process of organizing files :) I wouldn't like to say too much about my childhood here, but will just say that when there was a chaos around me I used to sat down and organized things ie books in alphabetical order etc. it'd calmed me down ... and it actually still does even now when I'm a grown up person.
and all of the clothes hangers have to be hung the same way as well.
Sad or what!
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Posted that exact same thing that you were thinking Peasie. How spooky is that.
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Shaun
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I;m not as bad as that, just had alot of work done on the house and its still on going unfortunately so had to get use to the mess even though I don't like it, it has got to the point of driving me mad!
What about shoes are they lined up in the wardrobe as well all polished neatly?
I have one pair of trainers and one pair of work shoes and that's it. When one wears out I go and buy another of more or less the same.
Use the same principle with the freezer. Why buy anything to store when it never goes out of date in Tesco's freezers!
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
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