Are you swimming in receipts? A receipt binder is the perfect record-keeping tool for home and office! Receipt binders make for easy referencing when you have questions about expenses or payments, while taking the stress out of tax season. No more searching for lost receipts when everything you need is at hand. You can make a receipt binder in mere minutes, too. Keep reading to learn how to get started.
Consider how you want to group. These three suggestions are most common:
- Group by month. Use monthly index tabs to corral all receipts by date. This is the easiest way to get started, but you can always change the grouping later as you use the binder and see what works best for your style and needs.
- Group by category. Use write-on index tabs to group by department or type of expense. You might pick this option if you have a rotating roster of vendors, making it easier to categorize transactions by regular groupings. If you’re filing your household receipts, you might have one tab for home maintenance and one tab for groceries.
- Group by vendor – Use alphabetical index tabs to keep all receipts from a particular vendor together. This option is best if you have a regular roster of vendors that does not change. Separate sheet protectors or binder envelopes for each vendor will keep multiple vendors filed under the same letter separate.
- Avoid large groupings of unclassified receipts. Over time, this will make it hard to find what you are looking for when you search for receipts. Get in the habit of regular filing to avoid paper build-up.
Putting it together
To ensure clear record-keeping, each index tab should begin with a log sheet. Include a column for:
- The date of the expense
- The name of the vendor
- The person making the purchase
- The purpose of the expense
- The method of payment check (number) or credit (which card)
- Category total
After the log sheet, include receipts in chronological order (they should match the log sheet). Options for adding receipts to the binder include:
- Taping the original to a sheet of paper you fasten in the binder. Use only one receipt per page, and place all receipts in the same direction.
- Placing receipts in a sheet protector or binder pocket. If you use binder pockets, fold to uniform length and clip receipts together in chronological order.
Consider making copies of thermal paper receipts at least once monthly if you’re concerned about receipts fading and becoming unusable for reference.
Receipt binders are an excellent way to monitor payments and expenses. Let us help you create your perfect receipt binder for work or home!