HomeTuesday TipsKeep Adequate Records!

I know I’ve talked about receipts before, and I can’t stress it enough. Because proof of expenses such as receipts, cancelled checks or bills are very important to keep!

Keeping those records may just save you someday! You work hard and run a legit business so back it up just in case!

The IRS says you need proof of an expense if it was $75 or more (except for lodging).

The easiest way to keep track (remember those receipts may fade!) is by using an app that you can simply snap a pic of your receipt and store.

I recommend:

💡And did you know that if you are using a software like QBO or XERO, that you can attach those receipts directly to your transactions? 💡Or the software will link directly with your app of choice in most cases. This is best practice.

Do you keep your receipts, and if so, how do you like to store them for your business bookkeeping purposes?


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