(08) 8162 8662 Hi Tech Car Service https://hitechcarservice.com.au/wp-content/themes/bosch_site/assets/images/BCS_Logo.jpg 418 Churchill Road, Kilburn SA 5084
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Hi Tech Car Service
(08) 8162 8662

 April 21 2024

Control Finances and Documents

Documents that accompany transactions is crucial for verification of compliance, auditing and recording. It also aids in the resolution of disputes, accountability, future planning, and dispute resolution. Documentation is also essential for ensuring regulatory compliance and to ensure that data is not lost or information is not stolen.

While certain of these documents could be physical, a lot of them are now stored electronically for security and ease. Some examples include investment papers receipts, important purchases and receipts, bank statements, bills, tax files and life insurance policies.

Create a filing system that is efficient and accurately reflects the information you work with and have. A file structure with categories such as “Estate and Legal”, “Bank Accounts”, “Investments” and “Utilities” is beneficial. Within each category you can subdivide it further to help locate the particular document you’re looking to find quickly. It’s also recommended to be consistent in the naming of files, using abbreviations and keywords that are easy to comprehend for yourself or anyone else who may require information about a specific document. Formatting dates in the YYYYYMM-DD format is also recommended to facilitate sorting and reference.

Think about storing your financial documents in a central cloud storage location. This gives you greater control over your files and helps you stay organized while removing the risk of losing or misfiling a document. Plus, digital storage is more secure than physical storage because thieves cannot access your computer as easily.

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Hi Tech Car Service
in Kilburn, SA
(08) 8162 8662

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