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Thread : Help Me Stop Losing Receipts!  
20 Jul 2008 @ 5:05 PM
valentine twin Join Date: Sun 20th Jul 2008
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Help Me Stop Losing Receipts!

Any suggestions? This past month, our checkbook balance was off by $700! Looking back, my husband found $300 missing receipt entries, from store purchases. After I go to the store, my routine is to place the receipt in my wallet. Although, in a rush, it will be jammed into my purse. Then, after 7 days or so, I will enter them into the checkbook. Well, I need to change my system. Any ideas?

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22 Jul 2008 @ 11:51 AM Reply # 1
Anni Join Date: Thu 25th Oct 2007
Threads: 18 Posts: 416
Financial Resources

Hi Valerie:

I found an ADDitude article with lots of different ideas for keeping on top of finances, including paying yourself a weekly allowance in cash so that you know you're over budget when your wallet is empty. Check out the article here: http://www.additudemag.com/adhd/article/2987.html

Here are a few others that might help, too...

No More Late Fees: Pay Your Bills on Time: http://www.additudemag.com/adhd/article/610.html

Budget Strategies for ADD Adults: 18 Ways to Save: http://www.additudemag.com/adhd/article/1659.html

33 Best Organization Tips for ADHD Adults at Work and Home: http://www.additudemag.com/adhd/article/729.html

I hope this helps!

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29 Aug 2008 @ 9:53 PM Reply # 2
jannarama Join Date: Wed 27th Aug 2008
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Receipt remedy

Can you carry the checkbook/register with you? When you are using your debit card, write the amount INTO the register right then and there at the register. You don't have to subtract it right then and there, just write in the amount. Then put the receipt in the checkbook register.

You could just write it like this....:

Transaction Type MM/DD STORE Amount D/C (debit card) 08/29 Wallyworld -47.28 Ch# 148 08/30 Rent -1500.00 Visa 08/30 Dr. Denton -12.00 DEP 08/30 Rebate from Lowes +50.00

Once they are all written, then in the evening you can reconcile the receipts and do the calculating.

Just a thought! Good luck!

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2 Sep 2008 @ 1:31 PM Reply # 3
xstitchnan Join Date: Tue 2nd Sep 2008
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Money management ideas

I think Jannarama has it right in that you need to log in your receipts right when you make a purchase. But it only works if you and your husband do not have a joint account, or you give him the register every week so he can keep track.

Another thing you can do is to budget your money for each type of expense, then put this money in CASH in separate envelopes and keep them in your purse. One is for groceries, one for fast food, one for fun, etc. When you spend money, you spend your CASH from that envelope, and then stick the receipt in it's place. At the end of the week, you will see very quickly where your money goes! Do not carry your debit card or checkbook with you and keep an emergency-only credit card in your wallet.

My problem has always been that I buy something, then need to take it back but can't find the receipt. I've started a new system that I've actually managed to stick with for the past 4 years!

1. Keep a small zippered bag in your purse for your receipts. Once a week or so, file them away. I do this when I'm waiting in carpool lane or at the drive through, getting a burger.

2. File those receipts in a coupon organizer. I keep mine in my car, and it is organized mostly by store. I buy a new coupon organizer each year. I keep it organized by stores in the front, by purchase type in the back. There are 3 stores I frequent for home repair and household goods--I keep the receipts for these in a separate pocket so I can return stuff later. Then there's a pocket for clothes, one for kid's stuff, and one for my hobbies. I don't keep grocery store receipts, but I pretty much keep everything else.

I think this would be great in case my house ever burned down, because I could take these receipts with me to the insurance company and show I bought these pieces of furniture and spent this much on clothing, etc. over the last 3 years. Of course, it would be nice if I kept them in a safe deposit box instead of my closet.

Good luck! I hope my suggestion helps somebody out there!

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8 Sep 2008 @ 3:44 AM Reply # 4
JeantheQueen Join Date: Mon 8th Sep 2008
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I used to have a budget program on my PDA that really helped. I'd enter transactions at the checkout as I made them, so no worries later about playing catchup. I know the program Quicken has a portable version for Palm Pilots.

(I do as much as possible on my PDA so there's not as much paperwork and flotsam to keep up with and I only need to hold onto the PDA. Hope it helps!)

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16 Sep 2008 @ 6:44 PM Reply # 5
jannarama Join Date: Wed 27th Aug 2008
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Envelope Budget!

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xstitchnan said: Another thing you can do is to budget your money for each type of expense, then put this money in CASH in separate envelopes and keep them in your purse. One is for groceries, one for fast food, one for fun, etc. When you spend money, you spend your CASH from that envelope, and then stick the receipt in it's place.

That reminds me of one that goes on the computer called "Envelope Budget" You can see it here: http://www.geocities.com/rameysoft/ We used this for awhile, but now we reconcile everything online every day.

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30 Sep 2008 @ 3:42 AM Reply # 6
young_gun Join Date: Sat 31st May 2008
Threads: 0 Posts: 1
Help w/ receipts

I have a simple solution that works for me and may help you too. I always TELL myself to put the receipt in the wallet right after a purchase - but rarely actually DO it. So, I've made putting receipts in my wallet part of my "starting the car" routine. As soon as I shut my car door, I think to myself: Receipts, ignition, seatbelt, air conditioning.

If you have trouble remembering to make this a habit, stick a post it note in your car, right where you can see it. Eventually you'll get into the swing of ALWAYS putting those receipts where they belong. This really helped my checkbook stay balanced.

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2 Oct 2008 @ 5:33 PM Reply # 7
KatzMeow Join Date: Sat 3rd May 2008
Threads: 2 Posts: 15
My system

I use to have the same problem--how could I balance a checkbook if most of transactions hadn't been recorded. What's the point of balancing if you're in that situation! Getting my husband to remember to give me his receipts was the biggest hurdle, then I had to designate a place to collect them. Now, I have a pretty good system for handling our finances. Another issue I had was remembering to record the receipts and pay the bills. I don't have a designated time to enter receipts. I try to do it at least once a week. If you're having problems being overdrawn on your checking account, try to set up a buffer--deduct an amount from your check register (what you're using to record your transactions--paper, ledger, computer program), whatever your finances allow/need...$100, $500, $1000. Your accounts will still balance because you're using the starting/ending balance and transactions from your statement, not the current balances of the accounts. If you use Money, the 'withdrawl' you made will show up every month, but don't mark it cleared or you'll be off by that amount when balancing. Just remember to use your balance, the one from your register/system, to see how much money you have in the bank. Try to forget the buffer; it's not for spending!

To remember to pay bills I set up reminders on the MSN Calendar--it sends reminders via emails and alerts that appear on your 'My MSN' page.

This is the system I've developed over the years (well, the partial system--now that I'm trying to describe it, it sounds elaborate): Have a desk or designated area where you'll process finances Use a 5-shelf ' paper/file thing (don't know what else to call it)

Top--for receipts; when I'm shopping I try to put the receipts IN my wallet, but sometimes they just get shoved into some part of my purse. Also, with the inbox thing on my desk, my husband knows where to put his receipts. I also keep two envelopes. One for the checking accout receipts, the other for credit card receipts. Once I register the receipt into MS Money I write Rec. (for recorded) on it and put it an envelope until it's time to balance the accounts. After I balance (and I balance all out accounts...including credit cards/savings) I shred the receipts I don't need. In my filing cabinet I keep a folder for receipts I need to keep for warranty/returns/etc. On top of those receipts I write 'KEEP!!" and the item/reason I'm keeping it.

Bottom shelf--where I put all the bills to be paid. Bills I pay online I try to record to Money immediately after I pay it and also write the payment info on the bill itself--date paid, account paid from, date, confirm number and write 'Rec' after it's recorded into Money.

When it comes time to balance, Money makes it an easy process. I compare bank statement with my records. I check them off on the statement as I go along. If an entry is missing from my records I put a large arrow beside it. Once I'm done, if I have arrows, then I look for husband (he can be bad about receipts too!), check my files, look for receipt on shelf or in envelope. Most months it takes very little time/effort to balance.

BTW, as odd as it seems, I have ADHD and am considering becoming an accountant. Even for me, I just don't see how those two things can exsist happily together--numbers, details and ADHD? However, I'm taking accounting classes to meet the requirements for the CPA exam. For some odd reason, finances/financial systems are the one productive thing I can hyperfocus on. In fact, I had to wrench myself out of writing about my 'system' because I realized was in that zone and it's very likely most of my 'audience' will have moved on or fallen asleep before reading this sentence.

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