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Tax Time- Receipts Receipts Receipts!

07 Apr

receipts

You’re busy. You are spending money on various things. You have receipts poking out of your wallet, or filling up your purse. My parents have receipts in their car glove compartment. You are tired from the day and don’t have the energy to organize the receipts every single day.  Here is something to think about:

I suggest you all get a box, or a basket, or a folder, or a giant envelopes or a jar and give a place to all receipts! Each time you come home, take the receipts out of your purse, bag, pocket, or wallet and put in that designated place. The main goal is to keep all receipts together. If you want to be really organized, get those 12 month accordion organizers. and you can put all the days receipts in that slot for that month.

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Then either at the end of each week or month go through and organize them. I have a spreadsheet and I enter them in.  I like spreadsheets because you can set it up to continuously add up your number so you know at moment how much you’ve spent. Also you can create many categories. You can also have an accordion folder for categories too. and transfer your newly sort piles into their corresponding categories.   My tax man says electronic is the way to go. Or you can have a ledger and write them in. (I used to do both.) Some people don’t trust technology to hold their records.

Either way you have organized records. I am realistic that not everyone can do the entering every day or every time they spend money. So again, the goal is to keep all receipts you need for your taxes NEXT year in one place and not lose anything. It will save you time later trying to locate a certain receipt too.

ALSO if it’s too late and you have not done this for the whole year and have tons of receipts, You can grab one of those accordion organizers and they usually come with cards for each month to side in on the top of each section of the accordion. Then just dump each receipt by month in each corresponding section.

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After all of that is done, there are scanners on the market that you can scan the actual receipts onto the computer and create a folder there for them, AND that will eliminate the actual clutter of papers.

 
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Posted by on April 7, 2015 in Organizing

 

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