Week 1 Day 6 Actions Items List

[ ] Create a basic folder structure for your digital financial records.
[ ] Identify any gaps or missing documents in your current organization.
[ ] Explore digital tools or software that can help streamline your record-keeping.

Use the following guide to set up a basic folder structure to start the process of organizing your records.

Folder Descriptions:

Bank Statements: Organize by year for easy reference.
Invoices: Categorize sales and purchase invoices separately.
Receipts: Group by expense categories for quick identification.
Financial Statements: Separate folders for balance sheets, income statements, and cash flow statements.
Tax Documents: Store annual and quarterly tax-related records.
Contracts and Agreements: Keep all business-related contracts in one place.
Miscellaneous: For other important documents like legal papers, licenses, permits, and business plans.