Tracking Expenses The Old Fashioned Way

teThe best hint anyone ever gave me for keeping track of my business expenses was decidedly low-tech. A writing buddy, complaining about how disorganized she was with her records, mentioned that she just threw all of her receipts into a cardboard accordion file and then took the mess to her accountant in January. The proverbial light bulb went on over my head: “Aha! An accordion file! Why didn’t I think of that?”

Until that point, I had fancied myself on the cutting edge of expense record-keeping: I had designed a spreadsheet that kept a running tally of business expenses, and I always knew at a keystroke how much I was spending on subscriptions and fax paper or what my total deductible business expenses were on a year-to-date basis. But my receipts and cancelled checks were just piled in a shoe box. If I ever got audited, it would probably take me days to sort through all …

 

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