How to Keep Track of Your Business Receipts

March 8, 2019

One of the things we pros need to keep track of is our business receipts. Given we have to keep records for seven years here in the U.S., you can see why it’s something we have to do.

Given we could be audited at any time, it’s really important to keep a detailed record of all our receipts, income, expenses, etc, so we don’t fall foul of the IRS.

In this video, I want to share a quick and simple tip on what I do.
 

As you can see, it’s as simple as keeping an envelope for each month throughout the year, in readiness for any audit or tax reports you need.

Then it’s just a matter of storing these envelopes in a safe place until they’re needed!

I hope this video helps, guys, and let me know how you go about managing all of your business receipts.