Late Work System?

A major focus for our week of course is centered around math as we continue prepping for THE TEST.  I set aside some time during our afternoon for those students who have late work.  This is one thing that I really want to revamp for next year.  Things that I have done in the past just haven't worked as I expected this year.  We have a system where a supervised classroom is set up during recess where we can have students go to finish up incomplete work.  Have you found a system that works wonders for you?  I saw recently on another fabulous blog, dandelions and dragonflies, a management system where she has pocket charts with folders for each student.  Students who finished their work put their folder in a designated place, and it really seems like it would help to better manage student work.  I'm looking forward to incorporating something similar in my classroom next year.  I hope it will help to better regulate those students who always seem to struggle to get their assignments passed in within a reasonable time frame.  Has anyone tried anything similar, or have a tried and true successful system?