We deal with a lot of receipts over the year. Most of them end up in the garbage can and we hold on to the important ones for our tax returns. In this article we will share some tips and tricks that you can implement in your daily life to better manage your receipts.
Offline Vs Online Receipts
The first thing that you should do is create a separate folder on your computer to store all your online receipts. These days we get many of our invoices on the internet and the easiest way to keep them saved is to download the PDF version on a dedicated folder every time you pay for something.
By the end of the year you will have a folder full of online receipts which you can combine as a single PDF file using Adobe Acrobat and submit it to your accountant. If you really love keeping things organized, then you can also create subfolders for each month under your main folder.
Capturing Your Receipts Using Evernote
These days everyone uses a smartphone and you should download an app called Evernote (Free). Evernote allows you to create different notebooks under your account and store images or text notes on it.
Create a new notebook called bills and download the Evernote app for iPhone or Android. Every time you get a bill simply launch the app and save the picture in your notebook. If you follow this strategy, all your bills will be saved across different devices under Evernote.
Mint is a money management app that lets you track your spending and upcoming bills for you to have a better grasp on your spending habits. You can use their free service for your business account as well. Simply connect your bank account and Mint does the rest.