Thursday, June 09, 2011

Keeping Receipts

Many businesses use a receipt printer to produce receipts. You see them everywhere from the grocery store to the local gas station. Receipts are important for many people. If you are buying something for your writing business, you need to keep those receipts to declare income tax. I do that too, but I keep all receipts and log them into a spread sheet when I get home so I can keep track of where I'm spending my money. Otherwise it seems like I spend it faster than I make it, and I have no idea where it all goes. It can really help budgeting issues if you save all of your receipts, even if you don't keep them after you have them logged in. Once you see where you are spending your money, you can decide what items are necessary, if any can be either eliminated or reduced, or at least have the peace of mind that the hard earned money you make is really being used properly.