How to Create a Well-Organized Small Business Bookkeeping Binder

Please share :How to Create a Well-Organized Small Business Bookkeeping Binder How organized are your small business bookkeeping papers ? Are they all in one plaza or do you have them in files in a file cabinet ? There are benefits of creating a well-organized belittled clientele bookkeeping binder like the one I am going to discuss today .

Five Benefits of making a well-organized small business bookkeeping binder. 

beginning, it allows you to keep all your business papers all in one seat .
Second, Employee files need to be organized well. Visit the Record-keeping policy from this HR web site.

Third, Payroll liability reports and payments must be good documented for citation. so keeping them in one plaza secured is your best stake .
If there is an hand brake, you can grab the binder promptly and you will have all the documents you need for that class .
And, for tax audit purposes, it will make it easier if you have all your occupation bills and statements in one station arsenic well. This binder will make it easy for you to find the papers you need when you need it .
I hope this convinces you that you should set up this binder. If you are ready, let me show you how to make it. This post talks about how I broadly make this minor occupation bookkeeping binder. If you want help making this binder, see my data at the end of this mail .

What is in a well-organized small business bookkeeping binder?

I start with a heavy-duty binder that has plastic sleeves in the presence, spinal column, and inside the binder. Your binder may consist of some or all of these sections below. I normally start with a 3 inch or 4-inch binder and several 8 reckon clean tab key with pockets. A hole puncher is besides needed because all your papers will be trap punched to keep them securely in the binder. now it is time to review the sections that could be in your well-organized little business bookkeeping binder .
( Below are examples of the products I use for my clients from I receive a small commission at no extra blame to you if you click through and buy these items. )


Important Sections for a Well Organized Small Business Bookkeeping Binder - square

All Employer ID numbers, passwords, and logins in paper form if needed:

Placing all the passwords and logins in one space will truly help you when you need them. You can leave this out if you have a password management app .

Bill Pay checklist:

Create a list of all your bills and when they are due. Having a spreadsheet placed inside the binder will remind you of what needs to be done and when it is due. Check out our station : How to Create a Solopreneur Business Tracking Expenses Sheet

QuickBooks reports section in the binder:

If you use QuickBooks on-line or background interpretation, you know about QuickBooks Reports like your profit and Loss and other reports. well, this section is where you will place these printed reports. monthly and quarterly reports are fine in this section. It ’ s a flying means to see the reports without logging into QuickBooks or turning on your computer .

Payroll Summary reports section:

If you have payroll, you will need this section. A payroll party will send you these reports as you generate payroll. You must keep them handy so hole punching them and putting them in the binder is a good theme. If you want, you can put your payroll reports in another binder altogether to save space in this one .

Federal 941:

This is the Federal withholdings ( Federal, S.S., and Medicare ) that you will be collecting from your employees and sending them to the IRS each calendar month. Add the ratification submissions and the quarterly reports in this incision.

Federal 940 unemployment:

This section is for the Federal unemployment that your company and your staff pay up. This should have its own section excessively. The annual report can be placed here equally well .

State Earned Income tax:

This is your state department for earned income tax you will collect for your staff. Keep the quarterly reports hera adenine well as your payment confirmations .

State unemployment tax:

This section is for your state ’ s unemployment tax you collect from your staff and the business ’ payroll. This should have its own department that includes the quarterly submissions and confirmations .

Local Earned Income tax:

This tax is what you collect if your staff lives in an area that collects local earned income tax. This section will include the confirmation numbers and quarterly reports .

Local Services Tax:

This is a tax that pertains to where an employee/owner works. Some cities and towns do not have this tax .

State Sales Tax:

Do you sell products ? This section should be in your binder. All your submitted monthly or quarterly or every six months reports should be hole-punched in this section .

Petty Cash tracking section:

Do you do petty cash tracking ? This could be a section in your little business bookkeeping binder excessively .

Bills section:

This could be the section where you store your actual bills for your business. Or, you can store them in a cover accordion folder to keep them organized and contained .

W-2s and 1099misc reports:

This section is for all your completed print and submitted informational reports. Visit these posts to help with 1099s. Making A Small Business 1099 Tracking Sheet What is the 1099-NEC form ?
By the end of the year, all these items will be in one seat fastened to the binder that you can bring to your accountant which will reduce the sum of time it takes to gather this information .
now, doesn ’ metric ton this binder make more common sense to do now at the beginning of the year so you don ’ t have to gather it in a huffy rush at tax time ? I think thus .
If you need help creating this little business bookkeeping binder, feel dislodge to contact me. I have been doing solopreneur bookkeeping for over 10 years, and with my function organizing skills, my bookkeeping services include my ability to do paper organizing. many other bookkeepers do not offer this service .
Let’s continue the conversation, do you have a bookkeeping binder for your business? Please leave a comment below.

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