How to Keep Track of Bills With Software

Step-by-Step Guide

1. 1

   Step 1: Collect all of your paper bills.

   For bills that come in a paper format, using software will require manually entering billed amounts from paper.
   
   Think about storage for your paper bills.
   
   Some people feel they don't need to keep these documents on hand, but for others, having the paper bills can be handy for tax filing or other reasons.
   
   Come up with an organized way to store bills in folders and larger containers or filing cabinets for the best results.
2. 2

   Step 2: Look into electronic billing.

   Many companies now offer e-billing as an option for organizing and streamlining bill payments.
   
   With these alternatives, the bill payer can sometimes meld the online bill payment venue with financial software to get easier recording of electronic payments. , Find a variety of available programs from various vendors and choose the ones that will best help you monitor your financial situation.
   
   Choose the appropriate complexity for bill tracking software.
   
   Getting the right level of complexity is key for this kind of financial tool.
   
   Make sure the billing software that you choose has enough detail to provide you with the record-keeping that you need, without extremely complicated user controls or data storage setups. , Make sure that you have compiled all of your paper bills or electronic billing amounts, and carefully input all of these into your software program. , Use the available features on your software programs to analyze your monthly bill payments and do more with the financial information at your disposal.
   
   Create due date flags.
   
   One very popular feature of bill payment software is flags created for helping bill payers to recognize a due date or overdue bill status.
   
   Color coding often helps with these kinds of extra helpful features. , Another big use of bill payment software is the ability of most programs to provide historical bill payment data for annual tax reports or analyzing a number of financial years for a small business or household.
3. 3

   Step 3: Choose your bill tracking software.

4. 4

   Step 4: Input all billing information into the software.

5. 5

   Step 5: Read results and track totals.

6. 6

   Step 6: Use software records for tax reporting and other long-term accounting.

Detailed Guide

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