Communication is 95% of what a project manager should be focusing his/her time on. So, you want to make sure your communication with team and clients is done as clearly and efficiently as possible.
Discuss with clients what their preferred method of receiving status and other updates is (some like email only, some like phone, some old fashioned prefer to be updated on paper)
Setup an online project management tool (like LiquidPlanner, Clarizen or @task) that will allow for project status to be recorded on the web and communicated to the team via email update. If you're using LiquidPlanner, you will be able to create a PDF of your project schedule for those who prefer paper reports.
Establish a set time of the week when project status will be communicated, so that team members and clients will know when to receive it
For other daily communications, make sure that details are captured on the online project management system as much as possible, so that they will be easy to retrieve later. Discussions can be held directly on the project management tool, and/or details from face-to-face or phone discussions can be recorded on the project management tool.
Make sure that critical details are accessible by all team members, you will not want people hunting down information or missing information because it's stuck in one person's head or in their email box. This is one of the big advantages of using a web based project management tool.