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Money In, Money Out

Sometimes it just doesn’t make sense. You buy a filing cabinet or filing bin, computer, a printer, software and office supplies (paper, stapler, etc.). You’ve got everything you need to manage your small business, yet it seems impossible to get all the paperwork done. What can you do to help yourself? Use the “Money In, Money Out™” filing system, along with “Get It Done” paper management.

The “Money In, Money Out™” filing system, MIMO™,  has evolved since 1994. It is simple to use. Busy tradesmen like plumbers, contractors can quickly find a paid customer invoice or vendor bill. Just because they know which drawer to look in… it’s either money in (income) or money out (expenses). It mimics your Profit & Loss statement. Cost of Goods, or direct costs are in the front of the drawer. Credit Cards are next. Overhead expenses are categorized to match your expense accounts. Payroll is setup in quarters.

Unlike some filing systems I’ve seen where the vendors, along side customers are alphabetized. Let’s see… AT&T is in the front, Verizon is in the back and Sprint is in the middle. Doesn’t it make better sense to create a “telephone” file and maybe file folders for each vendor? How about your banking statements? Stashing Bank RI statements next to your “bagel shop” customer? Does it make better sense to put all the truck receipts in a truck  folder instead of 1 folder for Autozone (in the front), Tire Pros (in the back)? Two drawers and generic categories (which purposefully match your Quickbooks Profit and Loss listings) make finding things a snap. We all have better things to do than look for a lost invoice!

The “Get It Done” paper management system is based on a simple idea. Any paperwork that comes into your office needs one of these actions: pay, reference – file, toss – junk or needs action (research, phone call, etc). It’s a process that you can modify to fit your particular business needs. Give it 3 weeks before you give up and let us know how it works for you. Your comments are always welcomed!

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