Showing posts with label Keeping It Real. Show all posts
Showing posts with label Keeping It Real. Show all posts

February 20, 2012

Tax Time


Thank you to everyone for your kind words in response to my last post.  So I have noticed people randomly posting pics of them doing their taxes, with pictures of course. When I see the pictures it makes me chuckle; all the pictures I have seen seem to be of two maybe three manila folders and a small stalk of receipts. Now I could be wrong maybe they just wanted to make the photos look nice, I don't know.  What I do know is their stacks look nothing like mine.  So I thought since I'm going to be keeping it real, I dragged myself out to take a picture of my receipt organizing system. Maybe it will help some other planners out there, who like me seem to acquire a LOT of receipts and aren't quite sure how to store them. 


We all know that receipt ink can disappear in a few days in the bottom of our purses; so my system is that I make a copy of the receipt and staple the original to it, enter it in quickbooks and put it in a folder. Each folder is divided up by month, makes it easier if I have to go look for something or do a price comp.  I rarely have to look through the "actual receipts" since my Quickbooks system allows me to be really accurate in the breakdown of purchases and what account they belong in. Now I know there are bookkeeping systems out there that you can scan your receipts into and don't need to save the papers; but my accountant doesn't recommend it for me.

You see I buy all different kinds of things that are for work, and my categories are so weird that my accountant  recommends I keep everything. So this is how I do it.  Of course these folders are only the receipts they are not the bank statement folders, employee tax documents, sales tax folders, insurance folders etc... you get the idea.  I love you all but really didn't feel like digging all that out :)

I hope this tip helps at least one person, it sure saves me.