Do You Keep Receipts - Invoices - Records?

ClassicRockr

ClassicRockr

Well-known Member
We keep all restaurant, store and gas receipts in a tall manila envelope during each month. At the end of that month, we toss all of them and start over again.

Any receipts and/or invoices pertaining to our boat or either vehicle, I keep in a manila folders. One folder for each thing (boat, vehicle, vehicle) I also keep an ongoing, by the year, Excel spreadsheet for all three as well. Each spreadsheet shows repairs done, things bought, things we've done (cleaning, etc.). I have receipts, invoices and spreadsheets for all three going back to when we bought them. I make a copy of each "yearly" spreadsheet of all and put those spreadsheets in separate folders. I know when our next alignment and/or tire rotation is needed and on and on. Keep VA meds receipts I ordered online, lab results and co-pay receipts in a folder also. Don't do a spreadsheet for them though, but have got yearly folder for them. And, one other folder I have, one for all receipts of items order online and received.

IOW, anyone who would want to know everything about our 2005 Dodge Durango, we've got every receipt, invoice and spreadsheet for it, all the way up to this month of April 2018.

Actually, when I was doing Inventory Management and Jr. Buyer at my last job, I had to have very good records of both. My Director/Supervisor was very proud of how accurate and organized I was. Part of that "accuracy and organizational" stuff came from my years in the Navy. They didn't (and don't) tolerate mistakes and unorganized desks/offices. I found that out very quickly. My wife loves it that she can ask me about something I have records and/or receipts-invoices for and I can look it up and tell her.

So, how is your "Record Keeping"?
 

We keep only what's necessary (tax receipts, insurance recaps, investment statements, etc.) I don't keep receipts from random purchases unless they are attached to warranty information or whatever.
 
C'est Moi said:
We keep only what's necessary (tax receipts, insurance recaps, investment statements, etc.) I don't keep receipts from random purchases unless they are attached to warranty information or whatever.
Click to expand...

Yep! What she said. :D
Keep certain receipts to claim our small business also. It’s great for the tax break it offers.
 

We keep receipts and user manuals for electronic and appliances we've purchased, we have files for our property, vehicles and financial papers. My husband has always kept a written maintenance record of all his vehicles, most of the work he's done himself, if he sell a vehicle, he gives the new owner the record and it's much appreciated. Small credit card purchases like gas or restaurant I keep until the bill comes in, then I verify the amount and throw out the receipt.
 
I've gotten good at keeping records for our big purchases .. but everyday receipts .... forget it. I've found receipts crumpled up in my car or purse
from months ago . I just can't seem to get myself organized with the little stuff !
 
I keep credit card receipts until the bill is checked and paid (in full monthly) and then discard all but what is needed for taxes and proof of purchase for large items. I rarely use cash.
 
I write down everything that I spend each day and have a detailed record of expenses going back to 2003. Knowing where my money goes helps me to spot waste and plug leaks so I can have more money to spend on the things that I enjoy.

I keep receipts and related information on big-ticket items, automobile maintenance, etc... for as long as I own the item.

I keep detail records relating to income tax for at least 7 years, when the file box gets full I pull a few years from the back and dispose of them.
 
I’m the designated “Home Secretary” for most things. She does care of paying bills and keeps record of that.

We are such a match!
 
Aunt Bea said:
I write down everything that I spend each day and have a detailed record of expenses going back to 2003. Knowing where my money goes helps me to spot waste and plug leaks so I can have more money to spend on the things that I enjoy.

I keep receipts and related information on big-ticket items, automobile maintenance, etc... for as long as I own the item.

I keep detail records relating to income tax for at least 7 years, when the file box gets full I pull a few years from the back and dispose of them.
Click to expand...

Earlier this year I kept track of every cent I spent for a month. I resolved to only buy what I needed (vs what I wanted). It was quite eye-opening. At the end of that month I had a considerable amount of extra money. Well, not really extra but more than what I would have had if I'd spent it. :whome:
 
I only keep receipts of major purchases and things with warranties. I have a spot on a shelf for receipts of things I might want to return or exchange. I toss the old ones when they stack up.
I keep bills, account statements and things like change of terms in a manila envelope for each year - I keep them longer than I probably need to.
I have a spot in my file cabinet for owners manuals and warranty info paperwork, and I also have a shoebox for the smaller ones because they were really messing up the file cabinet drawer.
Insurance and medical paper work is my nemesis. Do Dr bills go under insurance or Dr? Has an explanation of benefits ever actually explained anything to anyone?!?! It might as well be in greek or klingon...

My 'checkbook' has been a spreadsheet for years. I use to work with spreadsheets a bit. I have a separate sheet for each year. And I have a template sheet for new years. It is much more reliable with math than I am. Copying a formula is easy. And my typing is much more legible than my writing (esp with small lines). And I like being able to add comments, as much as I want.

I do my own vehicle maintenance and track the maintenance and costs on the computer. Separate documents for each vehicle. For things I do repeatedly, like oil change, I have a list of the tools involved which make things faster.

HipG

.
 
I keep all receipts, but such is the life of the self-employed. My tax return is ten to fifteen forms, yearly. No big deal, for me, since I've been self-employed my whole life, except for a few years, when I taught.
 
applecruncher said:
Earlier this year I kept track of every cent I spent for a month. I resolved to only buy what I needed (vs what I wanted). It was quite eye-opening. At the end of that month I had a considerable amount of extra money. Well, not really extra but more than what I would have had if I'd spent it. :whome:
Click to expand...

It helps me to stay on track with my budget.

If I'm spending a little too much I can tap the brakes and make some less expensive choices for a week or two.

I think that I started keeping my book about the time I read Your Money or Your Life by Joe Dominguez.
 
I am a paper hoarder and keep too much of everything. I do have a four drawer filing cabinet and there's hanging files for everything. I also have a hanging file for tax filing. Also keep in it manuals for appliances etc. Many years ago I used to write down everything I spent monthly and kept that up for many years, then got tired of it. Now I pay almost everything with credit cards and print a year end summary. I also have a budget bank account and every month money gets added to it to pay for big ticket items like insurances and taxes, no more scrambling to find the money to pay for them.
 
I keep almost no paper at all. I hate piles of paper. There's no earthly reason for me to keep bills, etc., as almost anything I could ever want is accessible online. I don't even get paper bills or statements anymore. I DO keep instruction manuals for electronic stuff I buy, but that's about it, and of course, important papers like birth certificates, deeds, etc. Otherwise, I shred or just throw away paper stuff.
 
Force of habit, no doubt but I pay my bill by hand, writing a check these things payable like utility bills, doctor, hospital bills, Crecdit card, VA medications, etc. Ikeep a ledger showing receipt of trhe invoice or statement, date due, date paid, check number. I have receipts dating back several years., Periodly, I go through these bill and destroy anything i don't want to keep, which is mosst of them. I keep appliance manuals, etc in a seperal file. I have tax returns dating back seven years. It gives me something to do.
 
I only keep receipts for big ticket items that are under warranty. Other than that, I only keep gadget manuals, and income tax returns. This year I had to go all the way back, starting with 1993 tax returns, to do mine. :p But that was a one time thing. It should be easy from now on (famous last words).
 
My record keeping in regard to purchases is done by my bank record...debit card.

Titles, deeds, things of that magnitude of importance, are in my fire safe.

All other evidence is gotten rid of via the next day's fire.

I used to keep everything....e-v-e-r-y-t-h-i-n-g
file cabinets full, very tall file cabinets

then, one day, while fastidiously transferring receipts from three years back to the archive file, I stopped, asked myself....why

it's all in a fire safe now, a very small fire safe
 
I keep warranties, and I just got parts for my 9 and 1/2 year old barbq because I kept that 10 year warranty. Also keep tax records, insurance paperwork and medical stuff. The rest is stored online.
 
I keep receipts for warranties, instruction manuals, etc. Income tax back 7 years. I record deposits and withdrawals in a bank record and pay by MC for reward points. I know exactly where and when my money is going. Retired last June and it's a must to know this.
 

You must log in or register to reply here.

Back
Top