Organizing Receipts

There are many different ways that I’ve seen people keep track of receipts. I’ve seen people put them in piles, files, shoved in wallets or purses, placed in envelopes, or left in bags. Everyone gets receipts. They are the proof of purchase or service. Without them, we’ve no way of tracking spending, returning items, proving the timeframe that we purchased (for warranties), or getting our money back if we need to return something for some reason. Some businesses offer lifetime warranties or money back guarantees. If you don’t have a receipt that’ll last a lifetime, how’ll you ever get your warranty or your money back?

If you haven’t noticed, receipts don’t last very long. The paper is thin and brittle, and the ink disappears after a time. If you’ve receipts as part of your filing taxes, what happens if you get audited? Can you guarantee that the receipts will be viewable after a possible seven years? Well, there are two different techniques that can be used for keeping receipts. Physical records and electronic records.

Organizing receipts is very simple, fast, and efficient. The steps that I will show you should be done no later than once a month, and if possible, once a week. While you’re accumulating receipts over the week, you can place them anywhere that’s convenient, but you need to find a dedicated place that all the receipts go until they get organized. When you’re looking for your dedicated location, be sure to make it convenient! Convenience is the key. If you choose a location in a drawer, or any of the locations mentioned previously, it is easy to forget to organize receipts and next thing you know, you’re asking yourself “where’d I put that receipt?”.

Physical Receipts

Supplies that you’ll need for this process include: a binder (the size depends on the amount of receipts you have), paper, a copier, dividers, and a hole punch or page protectors (for extra protection). If you’ve a business, you may want a binder that’s 2 ½ to 3 inches or larger. Personal receipts can generally be organized in a 2-inch binder or smaller.

Step 1: Find a dedicated location for accumulated receipts so that they don’t get lost before they’re organized. If this is already done, gather your receipts, your binder, and find a suitable work space.

Step 2: Separate the receipts into stacks of categories (personal, business, medical, special purchases, household maintenance, etc.). If you’ve receipts that aren’t really in a category, make sure to include a miscellaneous category for those receipts.

Step 3: Take one stack at a time and organized them from the first day of the week/month to the last.

Step 4: With your dividers and binder, label the dividers for the categories of your receipts (personal, business, etc.), and place the dividers into the binder in the order you like (alphabetically, priorities near the front, etc.). Label your binder as the year of purchase (Receipts 2018, 2019, 2020, etc.).

Step 5: Take all the receipts from the first stack to the copier. Place the receipts on the scanner in the order of purchase date. Make sure to maximize the number of receipts per copy. This is why the process of copying receipts is done once a week or month, so that you don’t waste paper by only having one receipt on the copy (this’ll only be the case at the end of the week/month). If you have to, trim the receipts. Make sure that all the receipts have the store name, the item purchases, and the date. If the receipt is longer than the length of the paper you’re using, cut the receipt in half and copy both halves on the same page.

Step 6: Take all the copied receipts for the first category and either punch holes for the rings, or place them into page protectors. Place the copies into the binder in the proper category.

Step 7: Repeat steps 5 and 6 until all stacks of receipts have been copied and are placed into the binder.

Step 8: Make sure you have good copies and that all the necessary information is there. Throw the receipts away. Proof is all you need. Now that you’ve copies, you no longer need the originals.

Electronic Receipts

Supplies that you’ll need for this process includes a flash-drive (again, the size depends on the amount of receipts that need to be kept track of), a computer, and/or a copier. The steps are mostly the same as the physical copies.

Step 1: Gather receipts.

Step 2: Separate into categories.

Step 3: Organize dates of purchase, 1st to last day of week/month.

Step 4: Create folders on your flash-drive like you would with the binder.

Step 5: Place the receipts onto the scanner.

Step 6: Either scan the copy into your computer and save into the proper folder or plug the flash-drive into the copier and save directly from the copier.

Step 7: Repeat steps 5 and 6 until all stacks of receipts have been copied and are saved in the proper folders.

Step 8: Make sure you have good copies with all the information. Throw the receipts away.

Keeping track of receipts this way allows for convenience in locating them when they’re needed. It also allows for receipts to last much longer than the originals would. If you need the receipt in the future, simply make a copy of the page. Don’t take out the original copy other than to copy it and place it back where you had it when you’re done. If you’re using a flash-drive, simply print a copy. Either of these processes makes the receipts last as long as you need them to. Especially if you’re doing it electronically. Note that electronics can break, wear out, or get lost. If you go the route of electronic, better save the receipts in two separate locations. You have an option of using one or multiple flash-drives, a computer, an external hard-drive, or on a separate computer. Just make sure you’ve at least two options.


If you’ve any other ideas on keeping receipts, or tricks you’d like to share, comment below!