How to Organize Receipts

Do you feel like everywhere you turn, you’ve got paper receipts staring at you? You see them in your pocket, purse, wallet, car seat, bedside table, kitchen counter, etc. It’s like they are breeding and following you. It can be so overwhelming trying to figure out which ones to keep, which ones to toss, or should I be shredding them?

 

To free you from the feeling of being overwhelmed and anxious about paper receipts, I’ve put together a guide for what to do with the different types. You can relax knowing you’re keeping the good ones and discarding the ones you no longer need.

 

This guide is for personal spending only. If you are deducting expenses for business purposes you will need to keep and track those more specifically.

Receipt Type What to do
Grocery store, gas station, fast food, service receipts Track and toss.
Restaurant It is a good idea to verify restaurant receipts with your credit card statement to make sure tips are added correctly. The receipts can be tossed as soon as they are posted online or in your statement.

 

Clothing If you didn’t try the clothing on and there’s a chance it doesn’t fit or you might return it, keep the receipt in the bag. Try on the item and make a decision about keeping or returning pronto. If you are keeping toss the receipt. Items to be returned should be put in the bag with the receipt and taken to your car. Do not delay with this dangerous practice. It’s too easy to let time pass and not be able to return the item.

 

Gifts Request a gift receipt from the store and include it with the gift. You can toss your receipt.

 

Appliances (small) Test out the appliance such as a coffee maker, humidifier, hair dryer, to see if you’re satisfied with how it works. Keep the box and receipt for 30 days. If it’s a keeper, toss box and receipt. If you’re returning it, you have everything together to process the return.

 

Appliances (large) For appliances like dishwashers and washing machines, you’ll want to track when & where you purchased it and how much you paid. The ink will fade from the paper that most registers use so it’s a good idea to make a paper copy of the receipt and keep it with the warranty information. Should something happen, the manufacturer will ask you when and where you purchased it. If there is a replacement cost, you’ll know how much you paid.

 

Furniture & decor High dollar items that are an investment in your home should be tracked in case there is a warranty associated.

 

Medical care Keep receipts while confirming that insurance has covered the appropriate portion. If you’re treating a chronic or serious accident or illness, it is good to keep those receipts and paperwork together. Annual checkup receipts can be tossed once verified and paid.

 

Jewelry, Antiques, Cars Keep these receipts forever in your file drawer or container. You will need them for proving value in case of loss or sale.

 

Home Repairs & Renovations While not required, it is a good practice to keep these receipts because they usually include descriptions of the work performed. If you have repeat problems or want the same company back in your home, you have a detailed list of the services performed and when. You may also need to have this information for warranty issues.

 

Click the link here to get a copy of What to do with receipts to print out for your home use.

Happy organizing!

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