Receipt Management

[CheeseSlice]

I hate having loads of folders.
I now use a free standing filing cabinet with suspension files for keeping the majority of my records.
For expenses I just get A5 paper envelopes, and write 'expenses', then the month and year on the front.
Original receipts go inside the envelope after I've entered the amounts into Freeagent. I drop the monthly expenses envelope into the suspension file for that month, alongside LTD bank statements, monthly bills, etc.

I used to use those 12 month black suspension foolscap file boxes you get from Staples, but they're a PITA to manage after you've been contracting for a while.

[vwdan]

I scan all mine and then save them (safely and securely). Can't be doing with having them all around the place.

It is my least favourite job, though.

[TheCyclingProgrammer]

I see no point in keeping unnecessary bits of paper around. Scan them, back them up, throw away the receipts.

There is a very small list of things you need to keep in their *original* form (which can be electronic, or paper), dividend vouchers being one of the notable ones, but other than that HMRC will happily accept electronic copies of most things.

[aoxomoxoa]

Which ever ones the clients have in the stationary cupboard....

Damn it. My client only has moving cupboards

[Peter Loew]

I see no point in keeping unnecessary bits of paper around. Scan them, back them up, throw away the receipts.

There is a very small list of things you need to keep in their *original* form (which can be electronic, or paper), dividend vouchers being one of the notable ones, but other than that HMRC will happily accept electronic copies of most things.

What I do. All receipts kept ordered on Google Drive, as the Drive app has a neat scanning function. Backed up by local sync and local backup, and by the mysterious cloud.

[TheFaQQer]

What I do. All receipts kept ordered on Google Drive, as the Drive app has a neat scanning function. Backed up by local sync and local backup, and by the mysterious cloud.

And yet you worry about Free Agent's privacy policy

[Peter Loew]

Haha I knew someone would mention this. Receipts are one thing, financial details, who you invoice, for how much, tax details, etc., are quite, quite another!

[kaiser78]

For me all expenses are logged on a monthly spreddie, paper receipts go into a single envelope for each current financial year.

Use of binders, wallets, folders seems total overkill - I have never once had to refer to my paper receipts, so don't see the point.

And as for scanning them...

[Sausage Surprise]

Scanned, stapled together with the total amount written on the back of the last one, then "filed" in the current tax year's shoe box.

[Scruff]

Scanned, stapled together with the total amount written on the back of the last one, then "filed" in the current tax year's shoe box.

I like your thinking. Mine then get tossed into a Tesco bag and flung into a corner of my loft...