As a business owner, you may know keeping receipts when entertaining clients is important. However, did you know that receipts may not be enough? In addition to receipts, documentation is key to entertaining clients and writing off associated expenses. Here are some tips to help you keep track of the necessary documentation: Create a guest...
The IRS requires you to keep receipts for everything you spend on your business. Collecting and managing those receipts is a critical workflow for your business. Done well, this becomes a way everyone works. Not done well, this becomes a time-consuming reconstruction effort well after the fact, and the potential to still miss things is...
Federal and State agencies require businesses to keep supporting financial documents for up to 7 years, depending on the circumstances. Receipts of all expenditures are required to keep in case of an audit. Over time, receipts can get lost, ink can fade, and the nature of the purchase can be forgotten. Suppose you want to...
We get asked frequently, “What should I do with my receipts?” There are multiple solutions available to help keep your receipts organized. Different solutions offer features that are better fitting for clients. Some clients do well-using tools like Expensify or Tallie to track and record receipts and appreciate the ability to deal with their receipts...