How to Sort Payables by Their Due Date

An organized bill-paying system will help you sort your payables.

Bills come due at various times of the month, but they will often come in batches according to when they are due. Depending on how often you pay the bills, it may be necessary to sort your personal or business payables one or more times per month. Stick to the schedule to avoid paying late fees on your bills and to give you a sense of control over the bill-paying process.

Instructions

1. Write down the due dates of each bill you receive each month in three columns on a piece of paper. Label each column according to the times of the month the bills are due, such as "1st of the month," "15th" and "30th." Consider using spreadsheet software to make your list so that it is easier to update and print out as you update it.

2. Label three folders with the same column headings. Put your bills each month in the folder corresponding to the date it is due. Use your list of bills and their due dates to help you quickly know which folder the bill goes into.

3. Attach a copy of the list of bills to the folder or put one on the inside to help you sort your bills within the folder. Insert payables into the folders in chronological order as you receive them each month. Put the bills to be paid first in the front of the folder. Bills should go directly into the folder, not set on the counter to be looked at later, according to the website Effective Time Management Strategies.

4. Pull out the folder(s) of bills that is/are closest to their due dates on the day(s) that you pay bills. Pay the bills that are due soonest first. Work your way to the back of the folder to pay those due later.

Tips & Warnings

• An alternative to using a paper-based bill-paying system is to keep track of your bills with money managing software or with an Excel spreadsheet you create for your needs.

References

• Effective Time Management Strategies: How to Organize Your Bills