Receipts Matter: Why Capturing Them Can Save Your Business Time, Stress & Money
- Melton Liggett
- 6 days ago
- 2 min read
As a business owner, you’ve got enough on your plate—managing operations, delivering great service, and growing your bottom line. But there’s one small habit that can make a big difference when it comes to your financial health: capturing and organizing your receipts. Here’s why this simple step is a game changer—and how to make it part of your routine.
Why Capturing Receipts Matters
1. Proof of Purchase for Tax Deductions
Receipts are your first line of defense during an audit. The IRS and most state agencies require proper documentation to support your business expenses. No receipt? That deduction could be denied.
2. Seamless Bookkeeping & Accurate Financials
Uploading your receipts regularly makes it easier for your bookkeeper to categorize expenses correctly in QuickBooks. This means cleaner books, faster monthly closes, and more accurate reports you can trust.
3. Better Budgeting & Decision Making
When every expense is tracked and recorded, you’ll have a true picture of your spending habits. This helps you cut unnecessary costs and plan smarter for the future.
4. Prevents Expense Creep
Little expenses add up. Capturing receipts helps you stay aware of small purchases that could easily go unnoticed but impact your cash flow over time.
How to Capture Receipts Like a Pro
Use the QuickBooks Online Mobile App
Snap a photo of your receipt immediately after purchase. QBO will automatically try to match it with a transaction or create one for your review.
Email Your Receipts
If you receive digital receipts, forward them to your unique QBO receipts email address. (Your bookkeeper can help you set this up if you haven’t yet.)
Designate a “Receipts Inbox”
If you prefer paper receipts, keep an envelope or folder labeled by month in your car or office. Once a week, scan or photograph them and upload them to your shared drive or QBO.
Write Notes on Receipts
Make it easier to remember what a charge was for by jotting down a note like “client lunch – Jones Co.” or “office supplies.” These notes help your bookkeeper correctly categorize the expense.
Final Thoughts
Capturing receipts is a small task, but is one that is easily overlooked. It’s a powerful way to protect your business and stay on top of your finances. It’s also one of the best ways to help your bookkeeper help you! Work at making it a habit. Need help getting a system in place? Let’s chat—I’m here to make bookkeeping easier, not harder.
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