It pays to get a receipt for every single business expense. But those little slips of paper are hard to track if your office is a truck cab. Try this simple tip to stay organized:
Pick up one of those accordion-style expandable file folders from an office store. Ask your accountant* to help you create categories that make the most sense for filing your paperwork — one slot for meal receipts, for example, and another for fuel.
As you collect your receipts, simply put them into the appropriate slots in the filing kit. Then, every three months, put the folder into a big envelope and courier it to your accountant. That way he can give you quarterly financial statements, You’ll know where your business stands — and where your receipts are — all year long.
Save your receipts in an accordion file and mail them to your accountant* every three months.
* Don’t have an accountant? Contact TransCore Fleet Compliance and we’ll file your IFTA taxes for you.