Simple Record Keeping Strategies


Organization is the name of the game. If you don’t have a solid record keeping strategy, you will struggle to be tax ready. Bookkeeping will be a nightmare if you don’t have an effective filing system.


Here is some simple record keeping strategies to follow:

Record transactions by category:

  • All money received from clients
  • Schedule C categories for expenses


Filing System Categories


File in a way that your receipts are easy to access should you need them – whether by month, category or vendor.  In an audit, the request is usually for a particular category.


Categorizing Expenses

  • Advertising – promos, sponsorships, website
  • Commissions or fees paid out
  • Insurance – business liability, extra riders on property
  • Interest – business loans, credit card finance charges
  • Legal / Professional
  • Office expense
  • Supplies
  • Rent
  • Licenses
  • Taxes – personal property, sales/use tax
  • Travel – meals separate from transportation and lodging
  • Utilities for business office outside of home
  • Educational expense – books, seminars
  • Bank and merchant fees
  • Cell phone %


Record all transactions from receipts and other source documentation affecting your business.


 Bookkeeping Spreadsheets and Accounting Software

  • Record by category of expense easy totaling at year end
  • Verify information with bank statements to ensure all transactions are recorded


Excel spreadsheet work great for categorizing and totaling. QuickBooks will take it further by offering reports during the year on profitability.


Special Transactions

  • Fixed Assets
  • Travel
  • Home office
  • Taxes


For more tax ready record keeping strategies go to our Facebook page and message us, or send an email request to


Jennifer Thompson
(715) 559-4664

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