When I started my business, I quickly learned two things about receipts; I wasn't good at keeping track of receipts, and I was going to have to deal with it. Since then, I've learned some tricks for handling receipts that make it much easier to keep them organized and always be able to find the receipt I need.
1. Establish a simple routine for dealing with paper (including receipts!) as soon as it comes into your hands and stick to it.
For instance, I have a Day-Timer that I take everywhere. When I buy something, I put the receipt into the flap in my Day-Timer. When I get back to the office, I immediately put the receipt into the appropriate folder. That's what I do EVERY time. That way, I never have to think about where I might have put a receipt, and never have to waste time looking for one that's gone astray. (If you've ever torn your car apart looking for that one missing receipt, you know how important this is.)
2. When you get a receipt, look at it, and fill in missing or faded receipt information on the spot.
Even if you've paid with a credit card, not every machine will fill in all the receipt information you'll need later clearly. And hand-written receipts are worse. There's nothing more frustrating then trying to decipher a date or a product long after the fact when you've finally gotten around to the data entry stage. Dates particularly annoy me, as different countries use different dating conventions. Is 01-08-01 January 8 or August 1? I solve this problem by writing the month on receipts when I get them.
3. If you must fold a receipt, fold it so that the printed side is uppermost.
That way, it will be easier to find the receipt if you ever have to look for it. When you fold a receipt so that the printed side is hidden, all receipts look alike, and you'll have to unfold them all to find the receipt you want.
4. Don't let the data entry pile up.
If you have a bookkeeper, deliver your receipts on a weekly or monthly basis. If you're the one doing it, schedule time every week to do the necessary data entry, and stick to that schedule. If you don't, you'll just put it off, and your piles of receipts will become even more unappealing. You'll always find something more important or interesting to do if you don't force yourself to do it!
Following these four receipt tips will make it much easier to always be able to lay your hands on the exact receipt you need.
