Mise à jour COVID-19

BO est en train de recruter et de déployer des bénévoles pour répondre aux besoins en matière de bénévolat liés spécifiquement à la COVID-19 à Ottawa, à Prescott-Russell, dans le comté de Lanark et dans le comté de Renfrew tout en assurant des protocoles de dépistage et de formation appropriés pour protéger la santé des bénévoles et de ceux qu'ils aident. Veuillez trouver les portails d'accueil des bénévoles, des membres et des autres organisations sur notre page d'accueil. BO remercie chaleureusement Centraide de l’Est de l’Ontario, la Ville d'Ottawa et la Fondation communautaire d'Ottawa pour leur soutien financier.

Espace Membres Événements English | Français Panier
Skip to main content
Inside Banner

Blog > Managing your financial records - No shoeboxes allowed!

Managing your financial records - No shoeboxes allowed!

affiché le 17 fév 2017

by Maria Lahiffe

Do you keep your receipts in a shoebox? Managing your financial records is a bit like a trip to the dentist… few people enjoy it, but it is really important, especially around tax time or if you get audited. Here are some tips to do it right.

Always get a receipt

Even if it is for a couple of stamps, get a receipt. You’d be surprised how quickly little expenses can add up. Also, always look at your receipts as you get them. Sometimes a receipt doesn’t print out properly, or some information may be missing. Fill in the missing information BEFORE you leave the merchant.

Take a picture of each receipt

Use your smartphone to take a picture of each receipt as you get it. That way, if it gets lost, you have a backup. Also, as you’ll learn later, there are services which will organize your receipts for you (for a fee), who can work with photos of receipts.

Keep on top of the Canada Revenue Agency’s requirements for document storage, which change every few years. Here is the most recent version at the time or writing this post. This version is dated 3 Jan 2017.

File your receipts promptly

Don’t just throw everything into a shoebox! Set up a system of accounts, even if it is just a few account categories to start. Here is a good list to get you started. Set up an accordion file on your desk with headings for each separate account, then put in the receipts as you get them.

If you’re really, really bad at filing your receipts, consider outsourcing that function. Maybe hire a part-time bookkeeper or else use a service like shoeboxed.com to do your organizing for you.

A bookkeeper costs money, but good record-keeping is actually cost-effective in the long run. On the proactive side, it gives you an understanding of how you are spending your money, which your board and your funders want to know. On the reactive side, audit fees are very expensive, if you every get caught with your books not up-to-date.

Volunteer Ottawa offers a comprehensive suite of courses related to organizational operations. Click here for more information, and to register. Subscribe to our Event RSS Feed to be among the first to know when a new workshop is added to the schedule.

Like what you've read? Subscribe to our RSS feed so you never miss a post! We have a general RSS Feed for all VOices blog posts, as well as an Operations RSS Feed which will focus on topics related to organizational operations.

Related blog posts:

Filed under: Operations
new comment commentaire