TL;DR
A business owner buried in property and corporate records got her office back with one clear filing system. Kathi set up Freedom Filer, which keeps records alphabetical and color coded and makes it easy to clear out papers once they are no longer needed, moved old tax records into boxes outside the office, and cleared out three bags of recycling and four boxes for shredding.
A client recently contacted me because she was unclear about what paperwork she needed to keep and what she could shred. She had papers spread throughout her office. With information pertaining to numerous investment properties and multiple corporations, the paperwork involved in her business was fairly complicated, She understandably felt overwhelmed by the enormity of the paperwork and needed a solid system to track all of the monthly business at hand and manage the ongoing property records. I knew immediately that Freedom Filer was the system that would get her papers in order and provide the power to get them gone when they were no longer needed.
This is what her office looked like as we began to sort her papers beginning of our project:
We were able to get rid of at least 3 large trash bags of papers to recycle and 4 boxes of documents to shred. All of the tax records from the past now live in boxes out of the office space and are ready to shred and rotate out after the required holding time. When a new year gets archived, another will go to the shredding service.
Listen to what my client says about her office and this organizing process:
I feel that the biggest accomplishment of this process is that now my client has the power to know what she needs and what she doesn’t. She is also very clear about all of the corporations that she and her husband have set up and what she needs to do to keep track of the corporate records and investment property records. She is in control of the ongoing records and has the knowledge to make informed decisions! She is also not afraid to ask for more information because she feels that she has the basic knowledge to ask the right questions. Yippee!
The Freedom Filer file system keeps records alphabetical and in color coded categories which makes retrieving them when you need them a snap!
Here is what one her organized file drawers look like with Freedom Filer:
This is what her office looks like now:
Isn’t it a beautiful office space? She now has file drawers organized and waiting for new business or new property investments and when one sells, it is ready to leave her file system in one fell swoop!
Keep reading
- Tired of Being Buried Under Paperwork?What you can shred, what to keep and how to stop receipts from piling up.
- File papers into hanging folders ‘heads to the right’One simple filing rule that makes every paper faster to find.
Frequently asked questions
How do I know which business papers to keep and which to shred?
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Use one filing system that makes it clear what you need to keep and what can go. Kathi set up Freedom Filer for a client with several corporations and investment properties, so she now knows exactly what to keep.
What should I do with old tax records?
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Move them out of your working office. Kathi boxed her client’s past tax records and stored them elsewhere, ready to shred after the required holding time. Each time a new year is archived, the oldest box goes to the shredding service.
What is Freedom Filer?
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Freedom Filer is a filing system that keeps records in alphabetical order and color coded categories, which makes it quick to find what you need. It also makes it easy to clear out old records once they are no longer required.
How can I keep track of records for several businesses or properties?
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Give each corporation and property its own place in one consistent filing system. When a property sells, its records can leave the system all at once, and new businesses or investments have a ready spot waiting.
How much paper can a home office clear out in one project?
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In this project, Kathi and her client filled at least three large trash bags with paper to recycle and four boxes of documents to shred, then organized everything that remained into file drawers.
