How easily can you put your hands on one when you decide you need to return something? Would you like to prevent losing money when the store only gives you the lowest price without the receipt? Eliminate stress, lost time and self-recrimination by quickly retrieving any receipt.
Rule #1: Keep it Simple. It doesn’t have to be pretty, it just has to work.
Unload your pocket or purse regularly. Have a single spot at home (a small box or cubby hole) for your ATM and debit receipts before you record them. When traveling, collect them in an envelope, with newest in front.
After they are entered, have a single place (like a little box in an easily accessible drawer near the computer) where you keep them until your checking account is reconciled each month (You do that, don’t you? Financial software makes it easy). You can then rubber band that month’s bunch and stack them in a box in a closet or cupboard.
Credit card receipts need a place while waiting to be recorded. Entering them will go faster if you group and paperclip them by card. Then they go into that credit card’s file. It’s a good idea to reconcile each credit card just like your checking account, so you’ll know–did those credits come through?
When you need to return something, you can go to your computer, use “Find” to see the date, store, whether you paid with cash, debit or credit card, and know right where to locate the receipt.
This is the foundation for solid financial organization—and peace of mind. More next month.
Nancy Hagan, Effective Executive LLC, works with business leaders who want to be more effective and productive, and focus on their highest priorities. Please contact Nancy at Nancy@EffectiveExec.com or (513) 899-9949. For information about workshops and other services, visit www.EffectiveExec.com