Is your wallet or handbag full of crumpled receipts? Do those annoying little bits of paper fall out of pockets and get lost in the car, or end up in the washing machine, never to be read again? Can you ever find the one you’re looking for?

Receipts are the single most difficult area of paperwork to get into order. They pose the biggest challenge to even the most organised individual. There are two main reasons for this:

1. Receipts acquired throughout the day remain in our wallet, handbag, pocket or glove box until they reach their proper place. Receipts from internet or telephone purchases often arrive several days after purchase. We are subject to a constant flow of incoming receipts.
2. Every receipt has its’ own shape, size and quality of paper.

This constant variety leaves us with a distinct lack of desire or even knowledge, of how to organise our receipts.
However, there are some simple steps to follow:

1. Decide what you need to keep
You do not need to keep every receipt. Those related to tax deductible items, goods you may wish to return, larger purchases and items with a warranty need to be kept. In business all receipts may need to be kept. If you’re unsure, ask your accountant. HINT: For small receipts or where specific information is missing, stick the receipt onto a sheet of A4 paper and record any extra information there. For example if the newsagent receipt says “Stationery” but you need to remember it was for your work diary then write ’work diary’ on the A4 sheet next to the receipt.

2. Decide how long to keep each receipt
Know how long you need to keep any receipt. A receipt for a movie ticket and popcorn can more than likely be thrown away immediately (unless it is somehow work related and tax deductible). Receipts for items where the return date has expired can also be thrown away. To avoid unnecessary clutter dispose of all receipts you do not need.

3. Set up a system Keep all receipts in one place. Use a filing cabinet or portable, lidded plastic box with runners inside for hanging files. Label each file at the front with the main subject heading. Place manila folders within each file. Assign each manila folder a sub heading. For example: Label a file ‘Investment Property’. Place three manila folders within that file and label them: ‘insurance’, ‘rates’ and ‘repairs’ in that order, ie:alphabetically. File receipts in the relevant sub heading chronologically with the most recent at the front.

4. Maintain the system Take a few minutes daily to maintain your system. Empty your pockets, handbag, wallet, glove box every evening and file the receipts. Ensure your system is easily accessible and attractive to you. Use coloured folders, decorate with photos or anything that will make you feel at ease using the system.

Written by Roz Howland and published in The Cairns Sun 8 August, 2007.