Tuesday, June 9, 2009

Saving Those Receipts

My method of "filing" receipts may seem pretty ghetto, but it works for us and is VERY simple. Yes, that's right, we use the shoe-box method. But before you laugh and close your browser, stick with me for a second here. There's slightly more to it than that...

  • If purchasing something for a non-profit or business expense, we mark it as such immediately and file it separately when we get home. Non-profit/charity purchases that will not be reimbursed go immediately into the current year's tax folder to be dealt with end-of-year. (Same goes for any other tax-deductible receipts.) Business expenses go into a separate business receipt folder.
  • Big-ticket purchases get special treatment too. Those receipts are immediately clipped onto the item's instruction manual for safe-keeping. Instruction manuals are filed in a separate area from the regular household files, but are all together filed by type of item (toys, appliances, tools, computer, etc.)
  • Medical receipts that are paid for using our health care reimbursement account go into their own folder.
  • Small cash receipts for non-returnable items (tacos anyone?) are trashed. I mean really, why should I waste space saving that?
  • All other receipts go into a lovely black shoe-box-style photo box I picked up at a craft store. At the end of the year, all the receipts are transferred into a large ziplock or envelope until the taxes are done, then they're shredded.
That's end. My simple receipt filing system.

1 comments:

Anonymous said...

I never thought to mark the receipt that it was a donation! Thanks! I buy way too much stuff for my museum and wait to write it off instead of turning in the expense!