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Every few days I go through my wallet and put all my receipts in a business envelope. I start a new one each month. Then into a shoe box. Simple!

I have a file box that I keep my papers in, and one of the files is for receipts. The hard part is actually making myself put receipts in said file instead of in my junk drawer.

The question is...what receipts to keep?

There's several products on the market-
like these to digitize 'em...


http://www.neatreceipts.com/products

I have the same question as bohemian. What receipts do I really need to save? I mean is it worth saving my grocerry receipt when I know I am not going to return anything and if I was to get audited why can't I just use my credit card statement? It has the amount I spent on it. It seems like such a waste of storage.

I keep a lot of various receipts for work (Properties Designer). The best way I've found is to get a small photo album mine is only 30 spaces about the size of my wallet and store them in there. you can get fancy and keep them by store if you like. It also helps you keep track of what you're spending if you make a scheduled time to go thru them each week/month or so.

Please note: I am not a very anal person this is really easy once you get into the habit.

I keep them all in a box. However, even though I'm a freelancer, I've stopped going through that box, and just review my credit card statements and checkbook at tax time. If I really can't remember what something is, I'll dig through the box for the receipt. If I ever pay cash for something that's tax deductible (almost never) I try to put it aside so that I can include it at tax time. Other than that, I archive the box at the end of the year, mark it clearly, and hope I never have to look at it again!

I used to use an antique cookie jar to store my receipts...now I have upgraded to a smaller lacquer orange box (to discourage waiting a couple of months to reconcile my account).

The goal is to go through receipts montly and balance against my statement online...food receipts, grocery receipts, cleaning receipts and other similar receipts are thrown away once they post to my account online. I only keep the receipts that include items that I may need to return in future like furniture pieces, accessories or clothing.

For business expenses, I use one particular credit card and keep it separate from my bank card and other credit cards. Once the credit card statement comes in..I staple or attach the receipts-write out the detail onto the statement for year end tax purposes.

I also have a small notebook to record my freelance work details...mileage, money owed to me;), deposit slips when I have been paid (to record how much I make from each client) and other important information.

It works for me.

Consistency is necessary. Give a system a chance. Don't give up! Tweek it and make it work. Also, remember life is busy and things come up and weather warms up and these things get pushed aside. The most important thing is that it gets taken care of at some point.

For the most part, I don't keep them. Should I? I scan the receipts for large purchases (e.g. furniture) so that I have a digital copy, but throw away the originals.

the two main reasons to keep a receipt is for tax and insurance purposes.

i have two small accordian files; one broken up into my tax categories; transportation, supplies, pr, books/magazines, etc. and the other for insurance; large furniture, small furniture, technology, clothes, etc. the first two slots (in the tax file) are for my debit and amexp cards. i put any receipts in there until i check my statements.

when i come home i empty out my receipts in a bowl (25 seconds), then about once a week i sort out receipts by how i paid them (1-2 minutes): cash ones go right into proper category or trash. the debit and amexp ones go into the front slots until i check my statements. as i check my statements i file anything i need to keep and shred the rest (1/2 hr every 2-3 months).

at the end of the tax year, i pull out each category, add them up, then put in a #10 envelope label it by category, year and amount, then all the years envelopes go into a larger one marked the year and taxes. (1/2 hour once a year) the accordian file stays the same and is used over and over each year.

I keep my receipts in a recipe-card box, organized by category with most recent in the front. After my taxes are done, I staple all the relevant receipts to my copy of the return and file it all away. If I ever need anything in there, I know where it is and it's all together.

I probably have the worst system of all; I stuff them all in a tissue box until that tissue box can't hold anymore.

I use the same system as Oakland - 1 business size envelope per month in a shoe box. Works very well.

crumpled up in the bottom of my purse.

i did my taxes today and realized that the key is not to obsess about saving every piece of paper - the key is to keep separate accounts. if i had a biz credit card and check book, then the record of everything would be there, it would just need to get sorted at tax time into the different categories. but there would be no wondering - did I pay cash? etc. if you misplace a few receipts or they get faded or crumpled, it won't matter. you can pull out your shoebox of receipts for the irs IF you get audited, but otherwise won't need to refer to them. i'm opening a biz account next week!

Even though I don't keep receipts for tax purposes, but...

I keep all receipts that I think there MIGHT be a chance I'll need (for possible returns, etc) in a little expandable index card file that is sorted alphabetically by store.

For any products that come with manuals and / or warranties, I attach the receipt and put it all together in a file.

Anything that I know I won't need again, I try to get rid of right away.

I keep all receipts in a plastic zip lock bag, and all relevant bill stubs in another. At tax time, I just separate and compare to my bank statements while putting them into categories. I tend to be a stacker and piler in my office, so the zip lock works well. It lies flat in the basket where I pile all my papers!

I just took a look at that neatreceipts website. Couldn't you just scan your receipts from home and safe to a file?

I've been considering doing that. Right now, I just save work receipts in a manila folder. And, personal I just throw out (I figure my bank statement has pretty much everything on it.

I buy a 13 pocket folder at the beginning of every year - the kind that has a flap to cover it and an elastic closing it. There's a pocket for each month and the 13th for taxes. I don't have a business, so I don't need to do to much for that. Everything that is fully completed, but might be needed again goes in there. All sorts of receipts, bills, insurance stuff. I don't keep separate files for each type of thing, just make sure to keep things processed. I always know the time within a month or two of when something was, and the time saved from filing more than makes up for any extra time finding things. I keep two or so years downstairs, and further back in a box in the attic.