How to Organize Receipts for Your Childcare Business
It’s a new year and many of us are ready to get organized and streamline our business processes for the year ahead. In today’s article, we offer several practical ideas for organizing receipts for your childcare business. Read on to find out more.
1 – Go Digital
One of the best tips the Honest Buck Accounting team can give our clients when it comes to organizing receipts is to go digital. Trying to keep track of paper receipts can quickly become confusing, overwhelming, and chaotic. Instead, relying on a digital organization system will keep your receipts organized and easily accessible. Consider the following digital solutions to receipt organization to keep track of your expenses in 2023.
2 – Take a Picture of Receipts with Your Phone
Hanging onto paper receipts adds to the clutter. Instead, taking a picture of receipts with your phone in order to move them into digital storage can eliminate the messy paper trail. Just remember to back up these picture files so you don’t lose them.
3 – Create a Dedicated Email for Receipts
An easy way to create a hub for all your digital receipts is to set up a dedicated email exclusively for receipts. For example, you could take a picture of a receipt with your phone and send it to , the email you have chosen to house digital receipts. Of course, sending receipts to a dedicated email is a helpful step in receipt retention, but you will also need to move them from the dedicated email inbox into a more permanent storage solution.
4 – Save Receipts to Your Computer
If you prefer to store digital copies of receipts on your personal computer, you can create a digital file system to organize receipts locally. Remember to choose a naming system that makes sense and to back up your files regularly for protection. Local storage is usually a good idea for important financial records, including receipts.
5 – Use Cloud Storage, Like Google Drive
In addition to storing digital copies of receipts on your personal computer, you can set up a digital filing system with cloud storage. Google Drive may be a convenient and secure option to consider. On the other hand, you may want to upload digital receipts to your accounting software, see below.
6 – Upload Receipts to Your Accounting Software
Do you use QuickBooks Online, Dext, or another accounting software program for your childcare business? It’s easy and efficient to upload digital receipts to your accounting software so everything is all in one place. In fact, we strongly recommend our clients upload receipts to QuickBooks or their accounting software for ease of access and optimal organization.
We hope these quick tips will help you keep receipts organized this year.
Honest Buck Accounting offers a full range of professional accounting services for Early Childhood Education businesses. Contact us today to speak with one of our experts. We look forward to the opportunity to learn more about your childcare business.
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