What to do with those pesky receipts

It may seem odd to write about how to organise your receipts, however I find working with clients in their offices, particularly in their home office, that all sorts of receipts seem to accumulate and migrate throughout the office seemingly with a mind of their own. Clutter attracts clutter…

Here’s what I recommend to get your receipts organised once and for all, so that you also know where to put them in the future; this is the system I use:

– Firstly, you want to decide which receipts you need to keep, for example you probably don’t need to keep your supermarket receipts, or indeed any that are not claimable on your business. However, I do detach the discount voucher part of the supermarket receipt and put it in my wallet ready for the next time I have to fill up my car.

– Before I talk about the ‘claimable’ receipts, there are also another two types of receipts which you will want to keep. One would be guarantee receipts which I suggest you staple to the instruction or guarantee card you get with the product; keep all of these guarantees together in a file. The second is receipts for items you’ve purchased that you may need to return for one reason or another, these could be kept in an A4 envelope or a plastic sleeve.

– Regarding the claimable receipts, I keep these in a separate compartment of my wallet, and those that I’m not going to keep are immediately thrown away.

– On a regular basis, I will then transfer the claimable receipts into a plastic sleeve which I keep in the front of my tax/invoice ring binder ready for my monthly account reconciliation.

– Once I’ve entered the receipts into my income and expenses spreadsheet for the month, I staple the receipts together and put them in an envelope, write the month on it, and put that in a file box.

– For other type of receipts and paid invoices I simply put them into a pocket file for my monthly reconciliation. I then file them in their respective account files. This pocket file can also be used for medical receipts that you’re going to claim on, if you don’t already have a medical claim file handy.

These are very simplified systems that I have used for years and they work for me because I not only have a system whereby I can easily keep a tally of my income and expenses, but it becomes automatic to keep receipts organised in one place rather than on my desk, or bulging out my wallet or handbag.

We are almost at the end of October and before we know it Christmas and the end of the year will be upon us. I hope you have a wonderful month of November and enjoy the coming warmer days.

In Joy!

Angella Gilbert

P: 09 410 4166
M: 027 224 8937
E: angella@gioia.net.nz
W: www.gioia.net.nz

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