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4 Ways to Make Record Keeping Easier

No matter the size of your organization, it’s common for businesses to accrue a large number of documents related to operational and financial activities. It is critical to come up with an efficient system to keep your records organized. Having key files and other information easily accessible allows you to verify activities when it comes to accounting, and it can even save money.

Consider Fleet Management

You can elevate your record keeping to an entirely new level by using GPS fleet management tools. Even if you have a smaller organization and don’t have as many vehicles, managing the fleet can still get time-consuming. Tracking tools allow you to quickly record data relevant to your fleet, and you can quickly organize it. You’ll be better positioned to verify service and maintenance schedules, track drop-off locations for equipment, and determine which routes are used. You can look over a guide if you want to know more about how to simplify operations with GPS fleet racking.

Consider Regular Security Checks

Today, theft and data loss can occur at any time, especially if a hacker tries to get into your systems. As a business owner, you need to take the right steps to back up files and other electronic assets regularly. Storing everything in the cloud can keep you safe from theft, as you can set it to automatically back up the most important information. If you have paper documents as well, it is a good idea to make a copy of it to save in another place. You may have confidential or sensitive information in your records. You may have confidential information about employees, so you will need to keep the information in a secure place. It’s a good idea to set up two-factor authentication and passwords. With regular security checks, you can ensure the information is still being kept safe.

Manage Finances

Documents related to your finances should go in a separate area from your personal information. Business expenses should be deducted from the business bank, not your own. It is much easier to track cash flow for the organization when everything is coming and going from the same place. You can streamline records by using accounting and payroll software. They can help you keep track of key documents, such as invoices sent to customers.

Make sure you take time to set aside all receipts and you can use specific small business tools to help with this. Keeping them is part of a good record keeping practice. You may find you have a mix of electronic and paper receipts from vendors and suppliers. You can put the physical receipts in a folder for that tax year. Include a note on why you made the purchase and what it was. Adding more information can come in handy if you are ever the subject of an audit. If you want to combine paper and electronic receipts, consider scanning in all paper receipts and organizing them in folders on your server. Just make sure you regularly back everything up on the cloud in case anything happens to your servers.

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