Planning to start a business can be the most brainstorming and exhausting task for anyone. It needs a great idea with a plan for execution as everybody wants to make extra money rather than incur losses. People often start with a small business or sole trading because of less investment and lesser risk and then expand after it becomes a brand. But most of the time people complain about lack of time to expand the business as most of their involvement is around the daily tasks of maintaining the business.
A business is all about making transactions, buy and sell products and services, collect and make payments. For a small trader, these entire things take up all the time and none left for other promotional activities. Sole Traders and small businessmen who work entirely on their own, are unable to manage their financial ends efficiently. And ofcourse, these procedures are time consuming, hence, they end up loosing their receipts and record keeping which creates holes in their book of accounts, which in turn leads to lost information or a mess.
Receipt Management for small business and tradersshould be something very simple, user friendly and an accurate technique whichshould be able to take care of the receipts instantly and efficiently. Anything that goes in pending is difficult to clear, especially when talking about receipts. Once you get a receipt in hand, and if you have a system to upload it instantly, and it takes care of all your receipts there on, will keep your table clear.This is how we define V-archive. Once the receipts are in place you have an easy access 24x7 on all your smart devices. Whats Better? No mess in Life. Tax time easy ! Accountants are happy and you are well aware of your expenses too. Varchive shows you all.
Businessman who have the habit of collecting the receipts and expenses and leaving out on making entries on a daily basis often are the most confused people and they miss out on most of their expenses, as they forget or make mistakes with their finances.
The proper procedure of Howto File Receipts for Small Business is:
- Getting Started: Instead of waiting for a month to finish, make a habit to write down about every transaction by the end of the day. This will make work easy and no need to memorize anything once written.
- Sorting: Different files and folders must be maintained for sorting each and every receipt to its separate folder. There should a file for office work, another for household expenses and so on, and the receipts or expenses should be charged to its corresponding file.
- Make Folders: For every bundle to file there must be a folder to protect it from tearing and any receipt getting lost. These folders are to be safely kept in the cabinet for further assistance.
- Order: It is always helpful to name the cabinet and folders as per the relevance and organize them in proper order. This not only saves time but also doesn’t leave any chance for confusion.
Small Business Receipt Management is a very easy task if followed by the above procedure, but since there is a lack of time with the owners, they often hire agencies and individuals who have expert knowledge about management and accounting, serving the same purpose.
So, to avoid any kind of mismanagement, surf for the right people and allocate the work and get hassle free. This is where exactly VARCHIVE comes in. Visit our website www.varchive.com.au to get a better idea and a better life.
For ViSit Us:- Receipt Management Solution