Record Keeping Basics
Tools for record keeping
Audit proof your business - Internal records
Summary of required documents
Keeping receipts can be daunting. With a physical system, you will need to keep multiple envelopes to capture all the receipts you have in a year. A better work around is to get a scanner or app on your phone.
With a scanner or app, you scan the receipt, label it and the scanner or app automatically categorizes it for you. If using an app, your receipts are safely saved in the cloud. If using a scanner, be sure to backup your data or keep your receipts as a backup.
With a scanner, you can easily pull up a receipt when you need to. Also, this makes its easier to verify your purchase if its under warranty.