If you are anything like me, each year’s tax preparation results in my making one vow: this year I will do a better job at keeping track of my receipts. I always mean to do a job at this, but somehow, I always lose my drive as the year passes. This year, however, I’ve developed a new system to make it easier than ever to stay organized.
Designate a holding place for the receipts. In our home, I’ve simply dedicated one drawer of my filing cabinet to receipt storage. The cabinet is a little lonely-looking now, but I’m sure that it will fill up in no time.
Create file folders for each category of receipt. I hate sorting those receipts when it’s time to do our taxes, so I like using lots of folders. Now, I can sort as I file. I’ve made folders for things like medical expenses, charitable donations, business expenses, and tax receipts. In addition, I’ve also made folders for furniture purchases, appliances and their user manuals, and insurance. I know these aren’t related to preparing my taxes, but they’re worth organizing, anyway.
Drop receipts into their folders as they are accumulated. This is going to be the key to a successful system. When I take the receipt out of my purse, I am going to drop it straight into the appropriate folder. If I need the receipt later, I will know exactly where it is.
I am convinced that this year I am going to be able to stay on top of my receipts. My hope is that by doing a little bit of the filing each time I bring something new into the house, I will be able to avoid getting overwhelmed. In previous years, my filing has mounded up on top of my desk. Eventually, I just gave up and dumped all of them into a big envelope.
Hopefully by making filing easier with pre-prepared folders I will find it easier to keep my filing and my receipts in check. I can’t wait until the next time I need the owner’s manual for my new microwave. I’ll be able to walk into the office and find it in an instant. How cool is that?
{ 1 comment… read it below or add one }
I am horrible at organizing my receipts, wallet, or tax records. Fortunately, I’ve been able to keep everything in a couple file drawers and sort through them several times a year. I need to get better at doing this on a weekly basis so it’s not so painful.