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Ingenious ways to keep track of receipts

Ingenious ways to keep track of receipts
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One thing you learn over the years, both personally and as a business owner, is that keeping receipts is essential. Whether it's to double-check an odd entry in the accounting software or to know you're covered if the IRS comes calling, you have to have them.

Of course, a business can create a mountain of receipts every year, so you need a plan in place to organize them. Otherwise, they can really weigh you down. So, when every penny needs to be accounted for, how do you make sure that a receipt doesn't get overlooked, or worse, accidentally tossed?

Instead of keeping paper receipts that can get lost and destroyed, we find the best solution is to turn them into digital files. They take up less space and they're easier to search. Sound like too much work?

Here's the secret: You don't need to bother with an expensive or slow receipt scanner. There are smartphone and tablet apps that not only let you scan receipts, they organize them for you. You'll have no trouble pulling the exact receipt you need when you need it. There are even options that the IRS will accept if you're worried about that. So without further ado, let's get to work reducing the receipt clutter.

Next page: Expense reports and dealing with old paper receipts
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