If you have a small business and need to keep track of your receipts in a SIMPLE, orderly fashion OR if you do not have a business and are just a receipt addict here is an organizing solution for you…

By the way, I was seriously a receipt addict prior to this year! I looked at my old boxes of paperwork and I had EVERY receipt from the entire year in there! Who needs a McDonalds receipts or Walgreens milk receipt or grocery receipt or Christmas gift receipt from 6 years ago??? NOT me! I shredded ALL of my old paperwork and am only keeping tax supporting documents for 5 years and then it is GONE because I am on the throw-every-paper-I-can-away-from-this-day-forward-to-keep-things-simple kick! Just keeping things real (as my friend Jennifer would say)!

So, back to my solution! Get one hanging file and one pack of monthly tabs from a 8 1/2 x 11 planner. Drop the tabs (three hole punch side down)  into the file. I label the hanging file QuickBooks. Then, every time I have a receipt I drop it into the month I made the purchase and forget about it. I also drop my bank statement down into the month. When I take the time to work on my QuickBooks I grab the month I want to work on, enter the receipts into the computer and reconcile my back statement. Whah Laa! It is all right there! You might give it all to your accountant who will be thrilled out of her/his pants that you are so organized and all your receipts are not crumpled and crammed into a  box!! I LOVE, love, looooove this! I have no idea what I did before I came up with this idea but it could not be any more simple and easy! Here is a picture…

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Now a couple more tips…

  • Depending on the number of receipts you have you may need to put the first 6 months in one hanging file and the next six months in another.
  • When you first make the purchase it will save you time if you write on the top of the receipt what it is. I like to do that so that I can easily tell the difference between a personal receipt and a business receipt (because remember I am not keeping ANY personal receipts except super important ones!). You might also want to circle the date. Receipts have dates in various places and it is time consuming to look for them. Taking the 15 seconds to do this will save you time later.
  • When you pull your pile of receipts out of your purse or wallet or pocket or off the car floor you can walk straight to your file, stick the receipts in the month and be done with it!

Here is a great post from Linda of Organization Direct using similar ideas but with a different product that is portable.

What do you do with your receipts? Share your receipt solutions or questions in the comments!

Tracy Hoth