| If you are a home based business owner or | | | | account since you are the only one with the |
| thinking of becoming one, a major problem you | | | | password. |
| will inevitably face is the plethora of financial | | | | Important Documents that Need to be Archived |
| receipts such as credit card slips, canceled checks, | | | | Documents stored electronically are easy to go |
| leases, business cards, and other pieces of | | | | through, and take up practically no physical space. |
| financial records. If these receipts have inundated | | | | After awhile, you might prefer to shift your |
| your home, you know its time to take some | | | | important papers to a good storage place and |
| drastic measures! | | | | keep the electronic version with you. This is |
| Securing your Home Business Opportunities | | | | where the online receipt organizing companies |
| through Disciplined Record Keeping | | | | come in. You can simply maintain copies of your |
| It is mandatory under the law to maintain financial | | | | data on your account so that your computer is |
| records of your business. These records have to | | | | not bogged down with too many files. |
| be trustworthy and should portray a clear picture | | | | Here is a tentative list of documents that you as |
| of your business. I believe that it is imperative for | | | | a small business owner should have as an |
| a small business owner to focus on one's core | | | | electronic copy. |
| competency in order to maximize productivity. | | | | 1. Expenses that are even partially related to your |
| That is why I recommend all you home business | | | | home business. A good example is your telephone |
| owners to employ experts to keep a track of all | | | | bill that should be scanned. |
| your financial records by digitizing them. Many | | | | 2. All the receipts that concern your business. In |
| online receipt organizers are making their mark in | | | | spite of saving the monthly credit card |
| this arena. | | | | statements, the underlying credit card slips need |
| A Brief Glimpse into the Process | | | | to be saved and converted into an electronic |
| Imagine your self frantically rummaging through | | | | copy. |
| the inbox for a receipt of a purchase you made 3 | | | | 3. Copies of your tax returns, especially from the |
| months ago for tax purposes. You will finally | | | | year you started your home based business. |
| realize that you have probably deleted the email. | | | | Starting a Home Based Business the Right Way |
| Online receipt organizers offer you respite from | | | | Under the Internal Revenue Code Section 6001, |
| constant worrying over your online purchase | | | | you have to maintain records relevant to your |
| receipts. There are, of course, slight differences in | | | | business. Besides, these receipts can be |
| the manner in which these receipt storage and | | | | demanded by IRS should they want to audit your |
| organizing services work. Once you sign up with | | | | personal tax returns, or your business. In case of |
| your ideal service, you can use an email or user | | | | any inconsistencies or inaccuracies in your records, |
| name that they will provide you. Now, while | | | | the penalties charged will be detrimental to your |
| shopping online, you need only need to give your | | | | personal financial health as well as your business. |
| new e-mail address to online vendors, and the | | | | Moreover, some states may have laws that |
| electronically generated receipts will be safely | | | | necessitate the maintenance of your financial |
| stored on your new account. | | | | information. The state auditors can land up on |
| Another amazing advantage of these receipt | | | | your door step demanding to see your records. |
| organizing companies is that some of them are | | | | Highly Affordable Service for Home Businesses |
| ready to scan your paper receipts, give them a | | | | Once you have mapped out a secure and reliable |
| safe storage space on your account, and mail the | | | | way of keeping track of your records, you are |
| receipts back to you. Your financial information | | | | free to concentrate fully on your home business. |
| can now be easily accessed for taxes, | | | | If you are tired of spending too much time on |
| reimbursements, donations, insurance claims, | | | | managing seemingly endless piles of receipts, you |
| budgeting, etc. | | | | can write to me through the comment section on |
| The information gleaned from your receipts is | | | | my website for small businesses listed below and |
| stored safely using encryption methods like | | | | I will put you in touch with these companies. They |
| 256-bit secure socket layer encryption that is also | | | | will take all your receipts and digitize them in an |
| used by major financial institutions. Mo one can | | | | Excel sheet or a database for less than $10 a |
| extract your personal information from your | | | | month! |