Smart business owners like you know how critical it is to have clear and accurate financial records. The more data you collect over time, though, the less office space you have to keep it in.
A cost-effective solution is to rent a storage unit at Lone Star Self-Storage. But then the question arises: which papers should you put away in that unit?
File these by year. Include any information relating to audits as well.
This would include anything pertaining to employees or contractors, including contracts and employment application forms.
Accounts receivable documents
Sales slips, receipts, cash register tapes, credit card slips and sales invoices all fall under this category. For extra security, put these documents in a secure lock box before taking them to your storage unit.
Accounts payable paperwork
This includes all pay-out information that pertains to general business operations. If you have employees with expense accounts, any paperwork you have for them would also come under this heading.
Bank and other financial statements
Correspondence from your financial institution, along with balance sheets, income statements, profit-and-loss statements, cash flow statements and so on are among the other kinds of documents you may want to consider storing.
Be sure to organize all your documents by type and date before you put them away. Also try to have electronic versions of these papers available as back-ups. If the papers you have are more than 5 to 7 years old, it might be wise to throw them out to create space for newer documents.
At Lone Star Self-Storage, we offer units of every size to suit every businessperson’s budget. Declutter that office and get organized – contact us today!