Thursday, February 07, 2008

Getting It Done

I started tackling the huge filing and tax project the other day after I got the livingroom cleaned up from the quilting and pillow cover project. I decided to separate everything first and then tackle the little parts instead of getting overwhelmed in the bigness of it all.

I got a lot of the filing done yesterday before I had a few friends over for lunch. I even got most of the year end pulled out and separated into what gets shredded and what just goes in the trash. I am determined this year to do a thorough job of it and really get rid of stuff that we don't need and so far, I am doing well.

Today, I tackled the banking/investments pile. I had to go through the prior year stuff on the investments and retirement accounts because I was keeping everything, and I really don't need to do that. I managed to trim it down quite a bit. Then I started organizing the bank statements. I have been very bad and have not reconciled our main bank statements since the end of February 2007. So I had almost a year of statements to go through and check. Now, probably for most this would be a quick thing to do but I have a method and my method is a bit time consuming.

First, I have to take the statements and check off things in the checkbook as they show up in the statements and then add to the checkbook any dividends that I might not have known about. After I do that, I take the checkbook into the office and input everything from the checkbook into the MSMoney program we use. After I do that from the checkbook, I take the statements and reconcile the MSMoney against it. This is a way for me to triple check the numbers against each other and it keeps me straight on the money.

Needless to say, I managed to reconcile the checking, savings and market saver at our main bank. Tomorrow, I have to do the investments and the small savings accounts we have at two other banks. I am proud of myself for getting this huge hurdle out of the way, even though it was there because I was not doing it all year long like I should have been. I am one step closer to being able to do my taxes soon. I still don't have all my documents in the mail yet but I am sure they are on the way now that January is over and by the time they get here, I will be ready to start.


Mind Sprite said...

Mr Sprite has about that much work to do to catch up his finances, our finances and to do his own taxes.

Luckily I did mine already and I claim all the interest on the house, so we should be getting a nice fat refund pretty soon!

Mishka said...

My taxes are going to be a whole other post because we have complicated ones this year (I keep hoping that if I expect the worse, they won't really end up that bad...haha).

Mishka said...

You should be able to claim the taxes as well....

Chicken said...

I need to clean up too. I guess that is what I will be doing this weekend.