How do you keep track of your reciepts??

Discussion in 'Lawn Mowing' started by Carolina Cutter, Jan 27, 2005.

  1. Carolina Cutter

    Carolina Cutter LawnSite Senior Member
    Posts: 987

    Well here we are again at another tax time and after a year of business I have began the task of figuring Uncle Sam's part. Apparently some reciepts have gotten misplaced through the course of a years time.

    How do you keep track of your reciepts? A box?

    I am seriously considering scanning all reciepts into the comput and then placing them on cds for this year so if they do get lost I can still retrieve the info.

    Let me hear how you do it!
  2. CamLand

    CamLand LawnSite Bronze Member
    Posts: 1,300

    We put all reciepts into a file cabinet...
  3. tonygreek

    tonygreek LawnSite Gold Member
    Posts: 3,440

    merlin, my accountant had a great suggestion for this. purchase a box of large mailing envelopes (the 8 1/2 x 11 size) and label each one for the correct category (fuel 2005, entertainment 2005, advertising 2005, whatever...). as the receipt comes in, enter it into whatever software you use, if any, and then toss it in the correct envelope. i have something like 20 envelopes and it's fantastic, especially for this ADD-addled brain.

  4. Carolina Cutter

    Carolina Cutter LawnSite Senior Member
    Posts: 987

    Got a box of 10"x13" sitting right here that I bought just for that purpose. Just do not want to take the chance of losing anymore. Thats why I came up with the scan idea in addition to the know tax deductions are GOLD!
  5. Lux Lawn

    Lux Lawn LawnSite Silver Member
    Posts: 2,267

    After they are all entered into the computer they go into a filing cabinet where they are broken down into 3 different files cash,charge and checks written then at the end of the year I save them in envelopes or folders whatever is handy at the time.
  6. bobbygedd

    bobbygedd LawnSite Fanatic
    from NJ
    Posts: 10,178

    i do what tony does, except, i didn't buy the big envelopes, i stole a cratefull from my last job
  7. tonygreek

    tonygreek LawnSite Gold Member
    Posts: 3,440

    bobby, bobby, bobby.... you're in jersey. i think you meant to say, "they fell off the back of a truck.".
  8. leadarrows

    leadarrows LawnSite Senior Member
    from N/A
    Posts: 925

    I print my company name and the month on an envelope every month and another one for personal bills. I also keep my deposit slips separate for business and personal in similar envelopes. I have a filing cabinet I keep them in. Any thing I need to look up I first find it in QuickBooks and if I need to see the receipt I just pull that mounts envelope and look for it in chronological order.
  9. Green-Pro

    Green-Pro LawnSite Bronze Member
    Posts: 1,420

    My pocket.....LOL well only until I get home. I keep receipts for everything in a file after it is entered on th computer, anything I buy online, when it says print this page for your records, I do this and also file. I keep two pocket memo book type planners, one in truck & one in desk drawer. I write everything down, I guess I'm a bit what some would call anal when it comes to a lot of things, but I see no reason to leave anything to chance, if I can help it. I plan on double checking with my CPA how long, by law, I need to retain. I can never remember either 7 or 10 years?


  10. ProLandscapes

    ProLandscapes LawnSite Member
    Posts: 185

    I think legally you only have to keep your receipts and other expense records for three years. Me personally I keep them for ten years. Ask your CPA though for sure.

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