I keep a large plastic envelope near the phone in the kitchen. I have Bob trained to put Visa receipts there for easy reconciliation. The envelope is red.
Last month I placed a large green envelope along side the other. It's marked 2008 and is used to collect tax relevant receipts and documents.
My last pay stub from my seasonal job will go in there along with any charity acknowledgements, IRA contributions, stock sales, real estate tax bills, and the like.
Unfortunately, Bob now has 2 envelopes there and needs to decide which one to use for credit card receipts. He's not color-blind but has to stop and think.
The red one is for expenses and the green for tax deductions and the like. Red is negative and green is positive. When in doubt, the envelopes are the plastic see-through type and a quick peek at the contents helps.
I suggest whatever system works for you. An envelope system or a file folder system or a drawer dedicated to control receipts, invoices, and such.
'til later
No comments:
Post a Comment