It took me a long time to come up with a way of dealing with receipts that I could live with. Envelopes get too messy and bulky, and because the number of the number of categories I wanted, required too many. I tried putting them in a plastic bin when I came home at night but that was really just another way of procrastinating.
My solution – a letter sized coupon folder from an office supply store that’s properly categorized and kept in the car. Every time I get back in the car I file the one or two receipts I’ve acquired. At the end of the year I just put the entire folder in with my filing and start a new one. I’ve found that the folders with a stitched cloth edge are the most robust.
File Categories
Auto Fuel receipts get filed right after the fill-up, I’m in the car after all. I try to make a habit of writing the odometer reading on the receipt. It helps as a cross check for my travel records.
Auto Maintenance ditto for oil changes and other service work.
Bank personal is for ATM slips or teller transaction slips. I usually purge these after I see them on the bank statement.
Receipts – Personal are for things that I might have to return or will be needed for a warranty.
Receipts – Home are for items that contribute to the cost of running the home for tax purposes.
Expenses are things that I bought with my own cash or credit that will be charged to the company. This sections is emptied regularly when they are attached to my weekly expense report.
Receipts – Business are things that I’ve bought with company cash or bank card. Attaching them to the bank statement might be a good idea but I keep that electronically now. I actually have two accounts so there is a section for each bank account.
Bank – business is for ATM and teller deposit slips. I usually purge these after I see them on the bank statement.
Credit Card- Business is for slips on the Business owned credit card.
To File shouldn’t be here but sometimes I find I can’t avoid it, my wallet is full and I’m about to meet someone for lunch. Don’t want to avoid paying my share just because my wallet is messy! No doubt that means that I haven’t planned my time well on those days but that will be more stuff I have to figure out.