Back when I played Warhammer, I would just get scissors and cut out various rectangles for the units, snipping off troops as they died. I'd even write the stats on the slips of paper, for quicker reference. I know some folks consider it "ghetto", but I like to see what everything does on the battlefield.
There is a drawback, however. One day, my girlfriend visited, and saw all these slips of paper on the floor. She decided it was a mess, and gathered them all up into a neat little pile.
The goblin and Imperial troops involved are traumatized to this day...