Save Your Receipts… But Don’t Stop There!

We’ve all been told, “Save your receipts!” And while that’s a great first step, it’s only part of the picture. If you’re just tossing them in a shoebox or snapping photos and forgetting about them, you’re not getting the full benefit—or tax savings—they can bring.

Here’s the truth: it’s not just about keeping receipts—it’s about tracking them properly. Whether you use QuickBooks Online or a simple spreadsheet, your receipts should tell the full story of your business spending.

Here’s what you should be doing:

• Categorize the expense – Is it office supplies? A client lunch? Travel? Labeling it correctly ensures it's counted as a deductible business expense.

• Match the receipt to the transaction – This creates a solid paper trail and helps you stay IRS-ready in case of an audit.

• Add context when needed – A simple note like “Lunch with client – discussed Q2 project” goes a long way.

• Upload it to your system – In QuickBooks Online, you can attach receipts directly to the related expense. It's fast, clean, and efficient.

Many business owners think they’re being helpful by handing their CPA a box of receipts—but in reality, this only creates more work, delays, and potential errors. By keeping your receipts organized and properly tracked, you’ll save time, reduce tax stress, and potentially save money.

Need help building a receipt tracking system that works for your business?

📌 Join the DBR Bookkeeping Online Community HERE and get tools, support, and expert training.
📅 Or schedule a free call with Dr. Bryan Raya, QuickBooks ProAdvisor, to walk through your specific needs.

Let’s start doing business right—one receipt at a time!