Receipt Management

[KayMan]

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...

Not even broken down by month?

I don't know but it's been less than two month and I already have near 70 receipts. Granted the first month got things like limited company formation and accountancy fees etc. So assuming it is nearer to 30 in a month, then over a year that's 360, it will be tough to go through all these looking for a specific month. And especially that most receipts are small.

I think the point here is that you are building a framework so that it continues to work 5 or 10 years in the future. Maybe I just think too far head, but hey, I'm a BA after all, its my job!

[RSoles]

SJD spreadsheet, box file per contract, envelopes per month if I can be bothered.

[CheeseSlice]

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.

Nice. You deserve some sort of green carbon credits for doing that.

[tractor]

Not even broken down by month?

I don't know but it's been less than two month and I already have near 70 receipts. Granted the first month got things like limited company formation and accountancy fees etc. So assuming it is nearer to 30 in a month, then over a year that's 360, it will be tough to go through all these looking for a specific month. And especially that most receipts are small.

I think the point here is that you are building a framework so that it continues to work 5 or 10 years in the future. Maybe I just think too far head, but hey, I'm a BA after all, its my job!

Bejeezes, I don't get 70 in two years, what are you doing? Buying single paperclips or single staples?

[CheeseSlice]

Bejeezes, I don't get 70 in two years, what are you doing? Buying single paperclips or single staples?

easy enough when you're staying in hotels mid-week.
1 hotel invoice per week, so say 4 per month
4 meals out of an evening per week (mon-thur)
4 lunches per week (tue-fri: cause you're able to make your own for Monday right?)
=36 receipts
* 2 months = 72 receipts

[kaiser78]

Not even broken down by month?

I don't know but it's been less than two month and I already have near 70 receipts. Granted the first month got things like limited company formation and accountancy fees etc. So assuming it is nearer to 30 in a month, then over a year that's 360, it will be tough to go through all these looking for a specific month. And especially that most receipts are small.

I think the point here is that you are building a framework so that it continues to work 5 or 10 years in the future. Maybe I just think too far head, but hey, I'm a BA after all, its my job!

My expenses records are broken down by month - receipts are stored together but virtue that they have a date on them if required. Why separate if I don't need to ? Keep things simple is what I say.

[tractor]

...

easy enough when you're staying in hotels mid-week.
1 hotel invoice per week, so say 4 per month
4 meals out of an evening per week (mon-thur)
4 lunches per week (tue-fri: cause you're able to make your own for Monday right?)
=36 receipts
* 2 months = 72 receipts

Benchmark scale rates and a dispensation. Eliminates 36 of those.

[CheeseSlice]

Benchmark scale rates and a dispensation. Eliminates 36 of those.

Can you like, do caviar, oysters and champers on that, or is it capped at pie and mash rate?

[tractor]

Can you like, do caviar, oysters and champers on that, or is it capped at pie and mash rate?

Only if you consider it passes the 'reasonableness' test and HMRC agree otherwise yes, it is capped at pie and mash rate.

[vwdan]

Benchmark scale rates and a dispensation. Eliminates 36 of those.

Do you have one?

Edit: £15 for a "meal" - uh, think I'll stick to my receipts for London travel.