A lot of people ask me how I keep track of receipts and how to retrieve them when they are lost.
Here is my guide to retrieving receipts.
But how do I keep track of them in the first place?
Enter Expensify, my best friend over the last two years.
Expensify lets you take pictures of receipts and easily import them into expense reports. Â While I’m traveling, I snap away and am confident that I’ve kept track of the receipts.
It also lets you connect your credit cards. Â This way, you can tell if you’ve accidentally forgotten to get an expense reimbursed.
I do some contract work, so this is especially useful to me. Â I can snap a photo, write who the expense is for, and then I don’t have to worry about forgetting.
I go through my expenses once a week, which keeps me organized (and reminds me when I’m spending too much on clothing).
For an extra ten cents per receipts, they’ll fill out the receipt information for you–which has been invaluable to me. Â I upload my receipts and attach them to who the expense is for, wait for them to be processed, and just submit them (after quickly checking for errors).
With all the business travel I do, it lets me stay organized on the go through my smart phone and tablet.
For transactions under $75 and you have your credit card connected, it’ll automatically generate IRS compliant receipts for you. Â So if you DO lose a receipt, you don’t have to worry as much.
For e-receipts, you can simply forward it to Expensify and it’ll add it to your list.
I also use this to keep track of expenses for my personal business for IRS purposes. Â I submit my list of expenses to my tax guy, and I have it neatly separated out by IRS category. Â I don’t need to start chasing down receipts from (sometimes) over a year ago come tax season.
I highly recommend Expensify. Â It has made my travel life easier and kept me from missing out on reimbursements.
I use a high tech device known as an envelope.
Because our accounting dcepartment requires physical receipts by the end of the year.
I have been wondering about this. As I have expenses on multiple cards depending on where I stay or buy it might be more of a hassle than Dark Chocolate’s envelope technique for sole expenses (which I do) and the hard copies needed for employer. Hmm…
Is there any way you can talk to your employer about it? These receipts are 100% IRS compliant.
thank you autocorrect – Darth, not dark.
Sadly, the organizational inertia is against us here. My employer is a multinational with offices all over the world. Even simple PDFs are no problem for reimbursement, but they demand an original.