Keeping Business Receipts for Business Expense Reimbursement

Keep track of your receipts, or you may end up paying your own way.

“Oh, and may I have a receipt with that?”

Sound familiar? If you’ve ever needed to get reimbursed for a business purchase, it should. If you’re the typical traveler, by the time you get back to your hotel room your pockets are overflowing with receipts. You pull out your keys, and scraps of paper flutter to the floor.

Before your next trip, stop by an office supply store and for a couple of bucks pick yourself up one of those heavy duty envelopes with the elastic closure. If you need something larger or smaller, buy accordingly, but the average No. 10 size should be sufficient for most travelers. Keep this in your briefcase or purse or some other object you’ll be likely to have with you when you make purchases. Every time you get a receipt, put it in the envelope. That way, when you get home, you won’t be digging through your luggage just to be reimbursed for that cup ‘o joe.

This type of envelope is very simple — just a flap and an elastic to hold it shut. You can also buy specialized envelopes or fancy ones that fit into your day planner. If you are really concerned about getting back every cent you spent, there are envelopes that have a chart on the front of them. Every time you spend money, you enter where it was, what it was you bought, and how much it cost. This is extremely helpful when the receipts you receive have no information on them other than the date, time and how much money has changed hands.

Regardless of which type you choose, an envelope is a great way to keep all your receipts together, so you can quickly and easily get what’s coming to you — just remember to actually put the receipts in the envelope once you get them.

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