The importance of keeping track

The importance of keeping track

Make sure you don’t ever have the wool pulled over your eyes by staying organised, up-to-date, and keeping track of all your paperwork.

As some small businesses may have experienced, it can be easy to fall victim to scams and dangers when the business paperwork is out of order. For example, some businesses last year received threats over not paying for advertising that didn’t exist. Having no time to check their records, many businesses fell for the scam and paid these non-existent bills before realising exactly what had happened.

This is why small business owners should make the seemingly laborious task of filing and organising the paperwork a top priority in the office to avoid these kind of scams. Here are some ways to make organising and keeping track of your paperwork as simple and easy as possible:

Add some colour
Try adding some colour to your filing system. By using different colours, tabs or labels to distinguish between the subjects and topics, it is more appealing on the eye, and can make it a lot quicker and easier to find what you’re after.

Use more than one basket
The saying ‘never put all your eggs in the one basket’ can apply to your paperwork too. Having all of your documents in the one place is likely to create disorder and clutter. Alternatively, try having four separate sections; a to-do basket, to-pay basket, to-file basket and a to-read basket.

Make it a habit
If you make filing the paperwork a weekly habit, it will soon become just that, and no longer an avoided or hated task. The more you do it, the less time it should take as well; around 15 – 20 minutes per day should do the trick.


If you believe the matters discussed above are relevant to your business, please contact Darren Smith of our office to discuss further.

Darren is a Chartered Accountant with extensive experience, including working in the big 4 and medium sized firms before becoming a partner of a city based firm in 2000.

He has gained much experience and has extensive knowledge in providing business and taxation advice, superannuation planning, negotiation of sales and acquisitions of businesses and property development. His client base covers a wide range of industry groups.

Darren works with business owners to grow their businesses and create personal wealth within and outside of their business.

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