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First one:
I'm receiving payment receipts in two sizes of paper. One is standard A4, and other is quarter of A4. Do I put them in same file folder? How this kind of issue is handled normally in offices? Small stuff is tough

I have four folders: payments, invoices, contracts and tax for every year and put everything in there. Category is more important then size of paper, better to have it all together, no matter the size. Good luck with your business!!!

Punch and store the receipts, in date order and in the same order as your Purchase Ledger entries, into an A4 Lever Arch File, while there is no (enforceable) Governmental requirement to keep paper receipts here in the UAE, it is good practice and will provide you easy future reference, if required.

Attaching receipts smaller than A4, to a blank A4 sheet, provides for a tidier File.

Alternatively scan everything and file it on your computer but remember to back your files up.

Send your bills via email and ask your customers to pay via BACS and email the remittance advice to you.

When I file the paper work for my business I file in date order but I do try to keep paperwork to a minimum. I do everything on line, my banking, my tax return, my VAT return and even my cattle movements.
At work we file by reference number but we are about to become a paperless office. Everything will be scanned in and sent to an in box. I will then distribute it electronically to my team. We have two screens per computer and can view the piece of correspondence while working on the account. Magic!

Good luck with your business Nucleus.

Dillon wrote:Punch and store the receipts, in date order and in the same order as your Purchase Ledger entries, into an A4 Lever Arch File, while there is no (enforceable) Governmental requirement to keep paper receipts here in the UAE, it is good practice and will provide you easy future reference, if required.

Attaching receipts smaller than A4, to a blank A4 sheet, provides for a tidier File.

Thanks for the tip, that is just what I was looking for

Thanks everybody for the replies!