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Ways to track and organize receipts

It can be overwhelming to track expenses. With receipts coming at you in various mediums like those that appear in your inbox, or the paper copies that end up shoved into the bottom of your bag, there should be a better way to keep and manage your receipts. Luckily, there are various ways to track and organize receipts to help keep your life and your inbox clutter-free. Receipt tracking software can help you digitize and manage every document, so it is organized, viewable, and entirely online.

Why you should save your receipts

You don't need to hang onto that receipt for that last trip to the coffee shop to get a latte, or that bill from the salon - right? Wrong! Accounting for everything you spend your money on will help you make sense of how much you spend in specific categories. According to TurboTax, knowing which receipts to save will help you maximize your tax refund while minimizing the amount of paperwork you need to for the next tax season. While a receipt to Starbucks isn't required during tax-time, keeping, organizing, and digitizing your receipts can help you in the following ways:

  • Save time by eliminating paper receipts as you can easily access them through a receipt tracker app.
  • Declutter your home and wallet by removing the paper clutter from receipts.
  • Save money when you return purchased items by always having a receipt to ensure you receive full credit.
  • Simplify your life during tax season.

There are also additional reasons why you need to save your receipts. Essentially, all receipts are not created equal. You always want to hang onto "proof of purchase for warranties," and receipts for substantial ticket items. The receipts for any major purchases, such as a car, new home, appliances, jewelry, or electronics, should be kept with your files as long as you own the item. Often, you may be the only person who has these copies in your records. 

As a rule of thumb, when keeping receipts, try to remind yourself whether it will be challenging to get a copy if you don't have the original. Sometimes it will take jumping through hoops and dealing with large (extremely busy) companies to get copies of warranties or original documentation. To avoid this scenario, opt to keep these types of receipts and upload them in your receipt tracker or digitally file away within your computer organization's system. 

woman wearing a pink shirt looking at receipts in a kitchen

How to track your receipts

It's never too late to get organized. Once you are ready to tackle organizing your receipts, the first step is to gather them from around your house. From the clutter drawer in the kitchen to the glove box in your car, search every nook and cranny for receipts to begin the process. Lay them out and determine which ones stay and which ones go. But wait, didn't we mention that you need to keep everything? Yes, but to an extent.

Remember that coffee receipt we were talking about? It shouldn't hold any staying power, and it's not something you need to hang on to and store like precious family memories. However, to keep organized and tracking your daily, weekly, monthly, and yearly expenditures, these types of receipts need to be stored and preserved and then discarded directly after. There are a multitude of ways you can keep your receipts organized such as:

  • storing them in one location, such as a jar or container on your counter,
  • labeling an assortment of envelopes and organizing them individually,
  • immediately scanning them into your home computer and organizing them digitally on your hard drive,
  • using a receipt tracker app to scan, upload and organize. 

While it won't be perfect when you get started, the point here is to get started. Once you have found all your receipts and documents to keep and save, it's time to organize. If the paper route of tracking and organizing is more your speed, keep those receipts in a safe and organized space where you can access them when it’s time to digitize! When you are ready to upload your paper documents into the digital space, choose the best receipt tracking software out there - the Rosy Home console and the Rosy Go app!

The Rosy Go receipt tracking software

Today, there are no options on the market that can capture receipts, save them, and offer the privacy and customization that the family of Rosy products can for you. The combination of the Rosy Home Console and the Rosy Go App work together to provide the best features, privacy, and upgrades of any digitization method. Rosy Home is a smart home digital assistant that offers a fully customizable experience. When you have those receipts laid out and ready to go, you can quickly scan and digitize your receipts with its built-in high-speed scanner. Rosy can also detect what type of document you're scanning using its proprietary AI technology, and you can tell it where and how you want to file your receipts. 

However, receipts often happen when you are out of home. This is why the companion app, Rosy Go, makes scanning and storing your receipts on the go a cinch. This receipt app offers the flexibility to take a photo of your receipt wherever you are, and Rosy Go will sync them to your Rosy account, organizing them and storing them based on your requirements. No more storing receipts in envelopes, jars, or in a drawer. The combination of Rosy Go and Rosy Home can securely manage, organize, and keep private your most essential receipts. Rosy makes this process so smooth that you may find yourself digitizing all your paper documents with this system. 

Organize your digital receipts 

Once your receipts are with Rosy, you have the option to customize how and where you want to store your digital copies. There is no single best way to organize your digital receipts - more like the best way for you. Like any digital organization system, choose a method that works for you. The most common way to store receipts is by month, and to have a snapshot of your monthly expenditures. However, you can also keep and group them by type or even by store (grocery, homegoods, garden, etc.). With the Rosy Go receipt app, you have the flexibility to organize and manipulate your receipts however you want to view them. However, make sure that whatever method you choose is easy for you to navigate and access to provide copies to your accountant or bookkeepers for any IRS business or personal tax requirements

It's okay to feel overwhelmed

If you have never budgeted or even kept your receipts - this process may take a while for you to adjust to. When you begin organizing and documenting your spending, the sheer amount of how much and where you are spending can be staggering. With multiple credit or debit cards, receipts handed to you at the store emailed to your junk folder and crumpled up in your pocket - it is nearly impossible to get a handle on your spending without this type of receipt tracker app. 

While Rosy makes the organization process as seamless as possible, you are the one behind the wheel, directing and customizing the process as it happens in real-time. We know that clutter negatively impacts mental well-being, and this can also be the clutter of your spending habits without a way to document and reign it in. However, when you begin using a receipt tracker app and laying out your expenses with Rosy Home and Rosy Go, the picture of your spending will become clear, and it will offer you a neat and organized snapshot of your expenses. 

To learn more about how Rosy can help you organize your receipts, sign up for our Waitlist at rosy.com/waitlist