Gday team,
I have yet to establish a decent type of system for keeping my financial, personal and property records in order.
I do store it all in a filing cabinet but I want to find a better way in which to maintain and regularily keep an eye on my bills, letters, statements etc.
Are there any books that could help me on this as im totally hopeless at doing admin. Im sure if I had some type of simple system organised my personal admin wouldn’t be such a mission!!cheers[blink][cap]
Hi Loanwolf,
We use a lever arch file for each property with a section for body corporate stuff, rental stuff, loan docs, settlement papers and a misc section.
In addition we keep second lever arch file into which we place all receipts and monthly statement records. This is divided into sections with each property having it’s own setion. When filing these docs we keep the statements and receipts separated from each other.
Sitting alongside this we have an excel file for recording the ins and outs for each property. This keeps a summary of the numbers and is handed to the accountant at tax time.
We also do data entry at the time the statement arrives or when we make payments which is done via scheduling facility that exists with Internet banking.
In all instance we file in reverse chronological order as it is quicker and easier.
The key is handle each piece of paper only once, deal with it straight away and it doesn’t seem onerous and keep it simple.
Derek
[email protected]
0409 882 958
Property investment advice and researched property in quality locations available.Hi there, I maintain hard copy of every item and allocate specific files for each property.
I also use MYOB which is an excellent package and I reconcile every month. I have a great book keeper who set me up and now I just maintain. This has worked well to date.
It may cost upfront but well worth it.I use a computer program called Obbie. It is wonderful, scan all my documents into the computer and keep a hard copy as well as a electrictronic copy.
You can easily set up different property files, i cannot speak highly enough of this program. Have a look and give it a try.
Cheers
jgray
Where do you get Obbie. I googled it and found nothing
cheers
markk
Happy Hunting
http://www.kentscollections.comhow you organise your paperwork is a matter of personal preference. i know some people that take hours if not days to find important documents! personally i have a filing cabinet with suspension files relating to each of my ip’s which are then divided by manila folders for say purchase doc’s, tenancy doc’s, utilities etc.etc. the key to it is organisation. it shouldn’t take you more than a couple of minutes to find important paperwork (especially useful when tax time comes or when your with your broker….)
eric
DebtDogg,
I purchased it through a friend who works in a local government. I think many local governments have adopted this program for their record keeping purposes.
From what i am told, the staff are overwhelmed with how good this program is. Time effective and user friendly.
Mine is a burnt copy from someone who works in a local government. I am not sure if it is sold seperately.
I will try and find out but if there is nothing on google i would imagine it is hard to find.
You way wish to search under objective. That is the actual name and from what i remember there is a website associated with the program too. Good luck and if you have no success i will have a harder look for you or organise something so you can trial it.
Cheers
hi debtdogg,
try this:
http://www.objective.com
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