The amount of paperwork our kids receive from kinder/daycare/school/sport can be crazy at times, and add to this party invitations, class contact lists, and more than one child at school, and it can be difficult to keep things on track. I have been doing this for a few years now, and it has worked a treat.
1. Allocate 1 magnetic bulldog clip per child.
2. Keep only that childs relevant paperwork in their clip (if relevant to more than 1 child, I put into eldest clip).
3. Find a space thats close to the hub of the house (ie kitchen area) and attach a magnetic board to the wall to keep the clips, this way they are always to hand.
TIP: Some schools/clubs/party invites are now being sent out electronically. I print them out and put them straight onto the clip (after noting any dates in my diary). This is the only way I seem to be able to effectively manage the paperwork.