Organize Checkbook and Receipts

There are many ways to track income and expenses. You can use a check register, pen and paper, Excel, a software program, etc.  The point is to keep track so any method that works is the right answer for you as long as it is easy enough to stick with.

If you love the pen and paper method, use a spiral notebook instead of a check register. It lasts longer, is easier to write in and it’s portable so you can keep track while you are on the go. Track your recorded transactions against the online banking transactions to make sure that you and the bank are in balance.

As you are collecting your daily receipts, you can keep them in a small envelope by month, or an expandable check file. This method works great if the receipts are organized by store rather than by generic categories. That way if you ever need to return something, you can look through the receipts from a particular store. This saves so much time!

Even if the receipt is past the normal 90 day return period, some stores will make the return if they still carry the item because you have the original receipt. These receipts are also great assistance during tax time. A few minutes of organizing those receipts can save you lots of money later.

If you are using software like Quickbooks, the program will quickly categorize each entry for you. Software is also great because you can look at your financial situation from many different angles.

If you are using software to track expenses, the most efficient way to store your receipts is taping them to paper in date order. This method takes the bulk out of your paper archives.

Now it’s your turn! What did you think of this post? Have a tip to share that you’ve found helpful? Do you have feedback of what you would like to read about in the future? Leave a comment below!

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