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Faded receipts

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  • Faded receipts

    I've noticed that a lot of store receipts fade after a few months, which is hard as I GTD my company's expenses.

    How do you handle receipts...do you scan 'em?

  • #2
    Claim ASAP?

    Originally posted by dheian View Post
    I've noticed that a lot of store receipts fade after a few months, which is hard as I GTD my company's expenses.

    How do you handle receipts...do you scan 'em?
    If possible, solve by delegation: claim your expenses back ASAP and let your company worry about the state of preservation... Doesn't work of course if YOU are the company...

    Comment


    • #3
      Yes, it's my company's receipts...until a few days ago, my filing system was nonexistent.

      Comment


      • #4
        Use paper folders or envelopes.

        Sometimes plastic folders make the fading process faster. Use paper folders or envelopes instead.

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        • #5
          An option

          Years ago I remember reading (and don't ask me from where) that what someone would do at the end of each month was to scan all his receipts for the month and save it in his computer. This method eliminated the need to save the actual paper receipts and avoided the fading you are experiencing. It also made it easier for him to recall the information for tax preparations.

          Hope this helps.

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          • #6
            If I need the receipt e. g. for tax I copy it and staple the original with the copy. I scan those which are important for long term and/or offsite storage.

            Yours
            Alexander

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            • #7
              Photocopy them - Scan to paper

              Since you're keeping the receipts as paper, I'd photocopy them or scan them to paper (many receipts to a page) and store them with that month's receipts. Depending on how many receipts you're tracking, I'd only bother to do this for receipts that were not paid by check - in other words those that were paid by petty cash. I'd only do it with the receipts that are on the paper that fade. I might also do it with one's that fade that get charged back to multiple accounts - a receipt that includes office expenses, cleaning supplies, supplies for repairs, and personal expenses. You know, a trip to Sam's, Costco or BJ's. :-0

              If you're not going to be processing these right away - try to separate them by month when you're stuffing them in the "shoebox" to process later. I did the paperwork for my husband's business for 20 years. I got him to circle the date, write the check number and amount paid (which didn't always match the invoice amount when there were also sheets of returns included). He also would put petty cash receipts in an envelope for each month and at the end of the month file that with the months receipts. His business wrote about 100 checks monthly, including payroll and probably had about 30-50 petty cash receipts.

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              • #8
                It's too late for the faded ones, but what I do is photocopy a batch, and staple the originals to the photocopy.

                This makes it difficult later to sort them by category, but you can solve that problem by storing receipts in date order, and referencing them from other key areas (eg: all receipts for this week go into 2007-Wxx, and in the "Travel Expenses" folder you can write down the expenses for the business trip to the next state's capital, with a reference to the weekly receipt sheet).

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                • #9
                  Neat Receipts scanner

                  I have a copy of the Neat Receipts scanner and it is working very well to prevent this problem. I liked it so well that I ordered one for my wife. Unfortunately hers arrived with a defective scanner. Hopefully they will fix that...

                  If you will need them for tax purposes then scan them or photocopy them. If not pitch them. In either case process them in a timely manner. Best to set up a batch time for this.

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                  • #10
                    Originally posted by jpm View Post
                    I have a copy of the Neat Receipts scanner and it is working very well to prevent this problem. I liked it so well that I ordered one for my wife. Unfortunately hers arrived with a defective scanner. Hopefully they will fix that...

                    If you will need them for tax purposes then scan them or photocopy them. If not pitch them. In either case process them in a timely manner. Best to set up a batch time for this.
                    How good is their software? I have a scanner, but if the software really can pick up from the reciept what I bought and get it categorized correctly, that could REALLY save me some time. Is their software accurate? Does it get most reciepts correct?

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                    • #11
                      Thanks for all the great tips!

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                      • #12
                        About 70% of the time it gets the data right. Not bad in my book. It also learns. Once you correct a receipt that was scanned, it's pretty good about scanning it right the next time. The software is a little slow to load up and change between modules, but other then that i've been satisfied with it.

                        Oh, and they replaced my wife's defective scanner...

                        Comment


                        • #13
                          Not even an Honorable Mention?

                          Photocopy is OK (hard copy now needs to be filed), flatbed scanner is better (very cheap these days)... but on the cheap and easy, take a picture of the receipt using your digital camera. Fast, easy, save a copy to your computer!

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