END OF THE FINANCIAL YEAR – WHY WE HATE IT AND WHAT WE CAN DO TO MAKE LIFE EASIER FOR OURSELVES

Well here we are again. The end of another financial year and the start of the new one. I can hear you all crying into your coffee right now! Its a stressful time, a time where we rush to get everything ready and a time we realise we should have taken more care during the year.

I developed a very easy system to help me file and keep track of all our business correspondence. I want to share it with you.

Arch Lever Folders

I purchased some Arch lever folders from www.officeworks.com.au and labelled them with the information I needed. For me I needed a folder to separate our admin costs with our supplier costs. Also because we deal with a tonne of emails daily I needed a folder to file the ones we had finished with but still needed to keep in case I had to refer back to something.

Inside each folder I put a set of alphabetical tabs so that when I pay a supplier or admin cost I file it under that tab. For instance my telephone bill would go under T. etc. On the spine of the folder I also added the financial year. Here we go from July to June. Weird yeah I know but you get used to it.

At the end of the financial year I simply lift out the pages along with the tabs and secure with foldable clips. See photo below.

Archiving

I use a scrap piece of paper to add information at the front so I know which files these are, for instance “Administration Expenses Paid July to June 2021” I then place the stack in an archive box which I also purchased from www.officeworks.com.au . I place the paper standing up by the spine with the clip side facing up. This makes it easier for me to grab should I need to look back on them.

Archiving station

As you can see from the photo above I also used some spare cardboard boxes we had laying around. I purchased the shelf from Officeworks as well so that I can add boxes easily as I need them. These boxes are fantastic as you can grab them, lift the lid off and look through what you need. They fit A4 size quite easily. I also purchased a half shelf (see photo below) so that I can use it as a work bench. From memory I think the shelves were $65 for the larger shelf and $40 for the smaller one. You will need to assemble them yourself or for an extra fee Officeworks can do that for you.

Archiving Station

And there you have it, in a couple of easy steps you have archived your files for the year. Should you need to refer back to anything its all labelled and neatly put in the boxes. Next what I do is I put in fresh tabs into the arch lever folders so that I can begin filing for the next year.

Its an easy and simple system which doesn’t cost too much and you can tailor it to suit your needs. www.officeworks.com.au have a fabulous range of products to help you with all your end of financial year needs.

Thank you again for reading my posts. Next week I will show you a simple system I use to file my cash register receipts.

Take care

Vicky

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