I have most of my fabrics sorted by color, however things like Christmas fabrics or flower fabrics, or the vegetable fabrics, etc are piled together. Also if I have very special, or expensive fabric, or hand dyed fabric, in special piles. Stripes are also in their own pile. I have them all in cabinets with doors so I can keep them free of dust, and light.
I try to do all scraps by color in one big box and all those scraps of a certain color in small bags so I can find a bit of color fast and not have to cut up a big piece if I only need a bit. When I get enough scraps, I make string quilts!
All fabric for specific projects is bundled with the pattern!