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I only keep merchandise receipts. Most of my CC expenses are dining, entertainment, etc..I dont even bother picking them up from the table, bar, etc. But when I do purchase merchandise, I normally keep the receipts for obvious reasons of return, warranty, etc. I am not a very organized guy so I keep it simple, envelope in my glove box of my car for all auto services, parts, etc. For bigger home purchases such as TV's, computers, appliances, etc - I normally tape the receipts underneath the item. For smaller, or more important items, I have a file labeled "Receipts" in my filing cabinet.
The only receipts I keep are for big purchases and I usually only retain them for maybe 30-60 days just to make sure the item isn't defective/etc. Past that you usually have to return to the manufacturer anyway so they're not that helpful to keep (at least for electronics type stuff).
Other than that I use Mint.com and pretty regularly review posted transactions there or on my CU site. I shred all my other receipts.
I have maybe 4 or 5 envelopes labeled Dining, Shopping, Bar Tabs, Starbucks, etc. along with the current month on it. I double check my statement with the receipts at the end of the month and then toss 'em.
I just shove them all in an envelope but I really want that Neat receipt scanner. Just don't wanna spend the $300 on it. Haha.
I don't keep mine. I'm terrible about that. I sure wish I had kept my Fossil one, because I couldn't get my darn watch fixed yesterday without it. Usually I pile them up throughout the week, & then toss them when it's trash day, just checking to make sure there's nothing important in there. But mostly I don't see the value in keeping any of them, so I don't.
Been doing this for years. I keep all of my receipts cash or credit cards. At the end of the day all receipts go into a envelope. Those receipts have saved me a lot of research time. I keep them for as about as long as the IRS requires that tax returns be kept. If i choose to go from old school to new school anytime in the near future i will go with neat (maybe). The problem with management of receipts is it's a Daily routine not a monthly thing. Do it every day and No problem. Sort of like how you handle your finances with your business.
I can't stand paper all over the place. If I really have to, I keep large appliance-type receipts with their instructions in a filng cabinet. I also have a large brown "folder" that has each month of the year in it separated as well (it comes like this). Places like Macy's can e-mail your receipt. Most of my receipts do not need to be saved though (grocery, small purchases, etc.). My good friend has the receipt scanner and LOVES it.
I think the trend will be merchants emailing reciepts, Apple does that and so does Micro Center I belive and also my work cafe (Note no tips here ) now has gone paperless and scans cards with an iPad and you can get your receipt emailed
I have them all imaged, dated, and filed under the merchant names on an external hard drive.
@Open123 wrote:I have them all imaged, dated, and filed under the merchant names on an external hard drive.
Do you do this for your personal expenses or just your business ones?
I guess I'm a slacker: I don't see any point to keeping my personal ones unless it's something I can deduct (which is few and far between for me these days).