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Filing System/Month End

Discussion in 'Business Operations' started by CWilliams, May 19, 2005.

  1. CWilliams

    CWilliams LawnSite Member
    Messages: 60

    Ok, I need help. I have made folders for each of our customers and for each expense we have. I'm trying to determine if I need to file in these folders all year (i.e. all gas receipts for the year would be in one folder, etc.) or if I need to file these expenses during the month. At the end of the month I would gather them all up and put them with our month-end reports. I would handle customer invoices and receipts for payments the same way.

    How do you all do it? Monthly or yearly?

  2. WhohasHelios?

    WhohasHelios? LawnSite Member
    Messages: 233

    We do it yearly, but I am considering switching to quarters. I run the standard chart of accounts through simply accounting on the computer and then have folders for all of my expense accounts. I file my invoices and reciepts in the proper folder after entering it on the computer and just keep putting new ones at the front of the folders as i go.

    At the end of the year naturally some of the folders are very full...So that may be reason to change over to monthly or quarterly.

    I suppose if you are a really big company it may be easier and more clear for finding things in a hurry if you filed monthly. But I have been doing it yearly and it works even as our volume triples each year.

    Also, this year I stopped running hard copies of every customer. I only keep folders for maintenance contracts and have all their info and invoices in there.

    For one time sales less than 1500.00 I dont even keep a paper trail, i just do it on the computer...This is legal where i am as long as you can provide weekly back ups for the revenue agency if you get audited.

    Then i file one time sales over 1500.00 in either commercial or residential.

    I am interested in hearing what other ppl are doing for this.


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