The Importance of Filing Documents

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The Importance of Filing

You’re not alone; few people enjoy filing documents. But hey, it’s a fact of life. And though you may not get that filing-high, you’ve probably experienced the lack-of-filing low. That’s when you’ve delayed filing your documents for so long, the pile is taller than you are. It’s when you can’t find the report that you swore was at the top of the pile yesterday. It’s when you’ve lost that warranty, and you pay for it.

Because we know you’re staring at a stack of unfiled documents right now, here are a few ways that organizing your files will improve your life.

Stay on top of family affairs

Is your son’s school asking for a vaccination record? Maybe you swear you paid your daughter’s soccer dues for the season, but they’re asking you to pay up. Whatever the issue, you can avoid a major headache by creating file folders for each family member — one for medical records and another for important receipts.

Avoid a devastating audit

Maybe you had those files at tax time, but you can’t find them now. That’s a big deal if the CRA decides to audit you! Keep things on-hand and categorized to avoid paying hefty fines. It’s easy, just create a folder for each tax year, and put all of your tax documents in after you file.

Get paid

Have you filed your invoices lately? For a freelancer, getting behind on invoice filing can hurt your reputation and your wallet. Keep a paid and unpaid folder at your work station and move things as money comes in. Every week, transfer your paid invoices into an annual invoice folder in your filing cabinet.

One word: taxes

It’s July, so none of us want to reminisce about the crunch-time of tax season. But let’s be honest, you’re probably already falling into a few bad habits that will bite you next April. By keeping track of medical receipts, children’s activities, home improvement expenses, transit passes and everything in between, you can increase your return in big ways.

Now, get filing!

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