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4 Ways to Get Your Receipts Out of the Shoebox

4 Ways to Get Your Receipts Out of the Shoebox

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    I find receipts in the craziest places: not only do I find them in wallets and purses but it’s not uncommon to fish them out of the filing cabinet or out from behind the couch. After all, those tiny slips of paper can slide away the moment your back is turned. The only way to keep them in line is to have a simple organizational system. For years, the classic approach has been a shoebox stuffed full of receipts. It’s a great way to ensure that all of our bits of paper are in one place, but it still leaves something to be desired. Come tax season, we get the choice between handing that box to an accountant or sorting through them ourselves.

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    There are other plans that can make more sense: we can eliminate a lot of the work that goes along with tracking expenses with a little technology. The options below can simplify the situation and make for a smoother tax season.

    1. Stick to plastic

    If you can make all of your purchases with a credit or debit card, you may be able to eliminate your receipt collection. Most bookkeeping software packages can retrieve your account information for your accounts — and interpret it to a certain extent. There are certain drawbacks to relying entirely on your card statements, though. Most don’t specifically identify just what you’ve purchased and it can be hard to remember whether a particular payment to the bookstore last year was an education expense. Cash payments can also through a big wrench in the system — there are plenty of opportunities for expenses that you need to keep track of that will be cash only (think splitting a meal with a client). There are other specific issues that go along with whether you decide to use a debit card or a credit card.

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    You can annotate your expenses in most bookkeeping programs, though, so as long as you keep up with your receipts, you can avoid organizing and categorizing your receipts beyond once a month. It’s not a perfect solution, but it won’t make your accountant cringe the way that shoebox of receipts does.

    2. Pick a service

    For a fee, services like Shoeboxed will take your receipts and scan them in. They use a system that not only recognizes the text and puts it in a format you can use but it can also automatically categorize your receipts. Because Shoeboxed and other services typically operate on a monthly basis, the number of receipts you can get scanned between now and April 15th may come up short. However, you can do a brief triage on your receipts and eliminate all those that don’t actually affect your taxes: groceries, movies and what not may not need to be scanned, unless you’re working on getting all of your expenses and your budget under control.

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    Pricing can vary on such services. Shoeboxed has plans that go from $9.95 a month up to $49.95 — I consider that a deal. It’s significantly cheaper than paying someone to scan in your receipts for you.

    3. Scan in your receipts yourself

    At first glance, it might seem that scanning in your own receipts is a step backwards from paying a service to do it for you. But with the right equipment, you can pretty much automate the process at home. In this case, the right equipment is a scanner meant specifically for receipts: I’ve been using the NeatReceipts system and actually find it easier than packaging up my receipts and sending them off. I sit down in front of a television show or movie and feed my receipts into the scanner. Its optical character recognition is very good — for the majority of receipts, the scanner extracts all of the pertinent information and puts it in a format that I can dump it into my bookkeeping software (as well as saving it as a PDF).

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    Whether the price tag that goes along with purchasing a scanner just for your receipts is worth it can depend on how many receipts you plan to process: depending on where you pick up the scanner, the price can be more than the cost of a year’s basic plan at Shoeboxed — but less than a mid-level plan. Use it for more than a year, or scan more receipts with it than a service allows for, and it’s not actually all that expensive. And, as long as you’ve got the receipt, you may be able to write off the scanner on your taxes.

    4. Going Old School

    If you’d rather not spend the money on tools or services to take care of your receipts for you, there’s always the old school approach. You can enter your receipts into Excel or another bookkeeping option by hand. But it’s worth noting that such an approach isn’t just expensive in terms of time: it requires more discipline than most people are willing to devote to managing receipts. If you get even a little behind, it can seem absolutely impossible to catch up.

    Other Services and Tools

    I mentioned tools and services that I’ve actually had the chance to use and found reliable. But I know there are many other options out there — if you’ve used a service or tool to organize your receipts that you’ve particularly liked, please share a link in the comments.

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    Last Updated on September 17, 2018

    Why Do I Have Bad Luck? 2 Simple Things to Change Your Destiny

    Why Do I Have Bad Luck? 2 Simple Things to Change Your Destiny

    Are you one of those people who are always suffering setbacks? Does little ever seem to go right for you? Do you sometimes feel that the universe is out to get you? Do you wonder:

    Why do I have bad luck?

    Let me let you into a secret:

    Your luck is no worse—and no better—than anyone else’s. It just feels that way. Better still, there are two simple things you can do which will reverse your feelings of being unlucky.

    1. Stop believing that what happens in your life is down to the vagaries of luck, destiny, supernatural forces, malevolent other people, or anything else outside your self.

    Psychologists call this “external locus of control.” It’s a kind of fatalism, where people believe that they can do little or nothing personally to change their lives.

    Because of this, they either merely hope for the best, focus on trying to change their luck by various kinds of superstition, or submit passively to whatever comes—while complaining that it doesn’t match their hopes.

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    Most successful people take the opposite view. They have “internal locus of control.” They believe that what happens in their life is nearly all down to them; and that even when chance events occur, what is important is not the event itself, but how you respond to it.

    This makes them pro-active, engaged, ready to try new things, and keen to find the means to change whatever in their lives they don’t like.

    They aren’t fatalistic and they don’t blame bad luck for what isn’t right in their world. They look for a way to make things better.

    Are they luckier than the others? Of course not.

    Luck is random—that’s what chance means—so they are just as likely to suffer setbacks as anyone else.

    What’s different is their response. When things go wrong, they quickly look for ways to put them right. They don’t whine, pity themselves, or complain about “bad luck.” They try to learn from what happened to avoid or correct it next time and get on with living their life as best they can.

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    No one is habitually luckier or unluckier than anyone else. It may seem so, over the short term (Random events often come in groups, just as random numbers often lie close together for several instances—which is why gamblers tend to see patterns where none exist).

    When you take a longer perspective, random chance is just . . . random. Yet those who feel that they are less lucky, typically pay far more attention to short-term instances of bad luck, convincing themselves of the correctness of their belief.

    Your locus of control isn’t genetic. You learned it somehow. If it isn’t working for you, change it.

    2. Remember that whatever you pay attention to grows in your mind.

    If you focus on what’s going wrong in your life—especially if you see it as “bad luck” you can do nothing about—it will seem blacker and more malevolent.

    In a short time, you’ll become so convinced that everything is against you that you’ll notice more and more instances where this appears to be true. As a result, you will almost certainly stop trying, convinced that nothing you can do will improve your prospects.

    Fatalism feeds on itself until people become passive “victims” of life’s blows. The “losers” in life are those who are convinced they will fail before they start anything; sure that their “bad luck” will ruin any prospects of success.

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    They rarely notice that the true reasons for their failure are ignorance, laziness, lack of skill, lack of forethought, or just plain foolishness—all of which they could do something to correct, if only they would stop blaming other people or “bad luck” for their personal deficiencies.

    Your attention is under your control. Send it where you want it to go. Starve the negative thoughts until they die.

    To improve your fortune, first decide that what happens is nearly always down to you; then try focusing on what works and what turns out well, not the bad stuff.

    Your “fate” really does depend on the choices that you make. When random events happen, as they always will, do you choose to try to turn them to your advantage or just complain about them?

    Thomas Jefferson is said to have used these words:

    “I’m a great believer in luck and I find the harder I work, the more I have of it.”

    Ralph Waldo Emerson said:

    “Shallow men believe in luck. Strong men believe in cause and effect.”

    Your luck, in the end, is pretty much what you choose it to be.

    Featured photo credit: LoboStudio Hamburg via unsplash.com

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