Easy Way to Track Business PurchasesTuesday, April 14, 2009
Keeping your receipts organized for accounting is generally a headache for any right-brained creative person. One simple way to help you itemize more quickly when your data entry rolls around (whether you do it yourself or outsource to a bookkeeper) is to write the gist of the purchase on your receipts as soon as you get them.
It looks something like this: After a lunch with Sally Photography, keep your receipt. At the top of the receipt, jot down these facts:
- Date (a quick and consistent way to do this is to use the six digit format, no slashes. Ex: 040609 would be April 6, 2009). You can also circle the date, but writing it will make the data entry process much faster later on.
- What the purchase was for. Ex: networking lunch with Sally Photography.
- If you have more than one person working for your company, initial the receipts so that you know at a glance who made the purchase.
What tricks do you use to keep your accounting processes organized?