Streamlining Your Accounting: The Importance of Sending Paperwork to Your Bookkeeper

Understanding the Scanning Process

Having a systematic scanning paperwork process is essential for effectively collaborating with your remote online bookkeeper. By digitizing important documents, you can streamline your accounting practices and ensure that your financial records are accurate and up-to-date.

Key Benefits of Digitizing Documents

• Accessibility: Digital documents can be easily accessed from anywhere. This enhances communication with your bookkeeper.

• Organization: A well-organized digital filing system helps you track receipts and important documents. This makes it easier to find what you need, when you need it.

• Security: Digital files can be backed up. This reduces the risk of loss due to physical damage or misplacement.

  
  

Important Paperwork to Digitize

Here are some types of paperwork that should be digitized and emailed to your bookkeeper:

• Receipts: Use your smartphone to take clear photos of each receipt. Make sure they are legible before sending them to your bookkeeper.

• Invoices: Scan or photograph any invoices received from vendors or clients. This ensures accurate transaction records.

• Bank Statements: Monthly bank statements need to be downloaded and emailed to your bookkeeper for reconciliation purposes.

• Contracts and Agreements: Scan important contracts and agreements. This ensures that all terms are documented and easily accessible.

• Tax Documents: Digitize any tax-related documents, such as W-2s or 1099s. This helps facilitate tax preparation and filing.

  
  

Best Practices for Digitizing and Submitting Documents

• Use Scanning Apps: Utilize reliable scanning apps on your smartphone for clear, high-resolution images.

• Organize Files: Create a consistent naming convention and folder structure for your digital files. This makes them easy to find.

• Regular Submissions: Set a schedule for submitting documents to your bookkeeper. This could be weekly or monthly to keep your records current.

  
  

By implementing a scanning paperwork process, you can enhance your collaboration with your remote online bookkeeper. This process ensures that all financial records are accurately maintained and easily accessible.

Organizing Your Paperwork

A well-defined organization method can significantly enhance your efficiency. Here are some suggestions to help you manage your paperwork:

Establish Paper Trays and Labels

We suggest setting up a few paper trays for processing paperwork that needs to be scanned. Go to your office supply store for essential items such as:

• Scanned stamp

• Stacking Letter Trays (we recommend clear, but any will do)

• Filing Cabinet or Document Storage Box

• Manila Folders (one for each month of the year)

• Label Maker

  
  

Once you have these supplies, label your paper trays for incoming documentation as follows:

1. INBOX

2. TO BE SCANNED

3. TO BE FILED

   
   

Next, label your manila folders with the month and year for each month of the current year. This organization allows for efficient sorting and retrieval.

Following a Step-by-Step Process

Once you have these items in place, refer to the video for a typical day of processing paperwork. Here’s a step-by-step guide on how to manage your paperwork:

1. Step 1: Place any received mail or paperwork into your INBOX.

2. Step 2: Go through the INBOX. Identify items needing to be scanned and prepare them. Flatten the paperwork for scanning, and place ready documents in the TO BE SCANNED tray. You may need to return to this tray after addressing some items.

3. Step 3: Scan your paperwork. Use your cell phone to take photos of individual documents or employ a scanner for multi-page documents. Send them to your bookkeeper.

4. Step 4: Email or upload your scans. Use your assigned HubDoc email from onboarding. In the email body, note what each receipt or document is for. Include details such as the reason for the purchase, the customer or project it relates to, and whether any splits are necessary.

5. Step 5: Stamp or notate your paperwork once scanned. This helps prevent confusion. Place the scanned paperwork in the TO BE FILED tray for later filing.

6. Step 6: File your paperwork. Since it's already scanned, it can now be easily duplicated in your virtual filing systems by your bookkeeper or yourself. You don’t need to create a complex physical filing system. Store all scanned and sent paperwork into the monthly manila folders. This ensures everything stays organized for tax purposes.

   
   

By following these organization methods and procedures, you can ensure that all your paperwork management tasks are efficient and effective.

Conclusion

In conclusion, digitizing and managing your paperwork is crucial in ensuring that your accounting is accurate. The phrase "the importance of sending paperwork to your bookkeeper" emphasizes the necessity of these steps. By implementing these practices, businesses can maintain organized records, streamline their bookkeeping efforts, and collaborate effectively with their bookkeepers. Investing time and effort into a solid scanning workflow is not just about efficiency—it's about empowering your financial health.

With these practices in place, you’ll save time and reduce the stress of managing your financial documents. Your bookkeeper will appreciate the organized approach, leading to a smoother working relationship.