Lately I have been presenting a lot of seminars on various topics concerning organization. Last week I did a seminar with a certified public accountant and we talked about the tax benefits if you have a home-based business. I spoke on how to best organize your home office space so that you can locate your paperwork and keep accurate records for your business.
The major theme of that seminar was "Document, Document, Document". It cannot be stressed enough as to how important it is to do; whether you have a business or not.
A perfect example came to light for me personally this week when I received documentation in the mail from Wachovia Bank which is soon to be changing over to Well-Fargo Bank officially in my area in mid-April.
The packet of information that was sent included the changes to the various types of accounts. In reviewing the information, I came to the conclusion that, after decades of being with Wachovia, formerly CoreStates, formerly First Union, formerly PSFS, I did not like what they had to offer and decided I would be closing out my accounts and moving them to another bank.
In the old days, this was no big deal. You went to the bank, spoke with the bank officer, closed out your account(s) and took your money with you.
Today, because of on-line banking - which I love because it saves me so much time - the transition will be a bit more complicated. I have not spoken with any representative of the bank as yet but plan to do so within the next week or so prior to the switch over.
I am not sure what their policy is as far as record keeping for accounts that are closed out. I have been doing online bill paying with Wachovia for the past 3 years and want to preserve that information.
This will be much easier for me to transition because I have kept good documentation of all of my bill paying activities.
I always urge my clients to print out the confirmation after they have directed the bank to make the payments for a certain amount on a certain day because they provide a Confirmation Number.
I am comforted by the fact that I have always kept good records of my transactions with the bank, not only on line, but by printing out a paper confirmation to attach to the back of each bill that I pay. I have taken the steps to create a list of the entities involved, their address where the payment is electronically sent and their account numbers so that my transition will be so much easier. I do not feel I am leaving anything behind but just moving forward towards a better fit for my financial needs.
The moral of the story is to document, document, document. You never know when you will need to put your hands on important information that might not be accessible at some point in the future.
Just some food for thought...
If you should find that you need assistance with this or any other type of organization, contact me. I will be glad to help.
In the meantime, have a great and organized week.