One high tech way of making sure receipts are always kept and organized is to use a scanner to scan in all the receipts. There are even specialty scanners in place now that can handle many receipts at once and even automatically file them into a specific folder.

The third step is to maintain invoice integrity. The concept of invoice integrity is simple — if there's an open invoice floating around, it needs to be accounted for and closed in a timely fashion. The biggest frustration of small business bookkeeping is often that invoices can take a long time to get filled and thus bring money back into the company to handle expenses and fund future projects. This step is so crucial that it may even lead to your bookkeeping system influencing corporate policy on exactly how and when invoices must be paid. For example, you can outline a policy where all invoices must be paid within 15 days of being sent out or there will be a late fee or other penalty. This usually encourages people to pay on time to avoid additional fees and charges.
Overall, the world of small business is challenging, but having the right system in place makes tackling the obstacles a lot easier. There's plenty of ways to handle your small business finances, but these tips should lead you in direction that's right for you and your business with no trouble!


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