I just started a new job and their filing has a lot to be desired. I have questions on how things can/should be filed. They are largely project based where all the expenses get charged to a project and passed to their customer. That part works great. Many of the employees have credit cards, some provide receipts some don't. When the receipts are handed in should they be kept with the credit card statement? Currently they have 'category' folders, for example - Hotel, gas station, rental car, etc. They aren't even kept per project but just generic folders for these categories. I'm getting pushback for wanting to put all the credit card receipts with the corresponding statement. Give me some of your thoughts.
USA credit card receipts
- Thread starter lsm477
- Start date
I think it would be easiest for your accounting department to have the receipts organized first by month then by category. Then when it comes time to reconcile the accounts and they find something awry with one of the accounts, they only need to look through one folder to find the mistake as opposed to 15 (or however many employees with credit cards there are).
But maybe there are other factors that might influence the best way to organize your receipts. Who else needs to see them? I'm assuming the expenses are assigned to project files and maybe scanned for the customer's records before the receipts are stowed away?
But maybe there are other factors that might influence the best way to organize your receipts. Who else needs to see them? I'm assuming the expenses are assigned to project files and maybe scanned for the customer's records before the receipts are stowed away?
The way I do it is this--the statement is the statement. Information from the statement is accounted for in the accounting system and the statement serves as backup. The receipts are backup for the statement, so they are kept with the statement on which they occur.
This way, the audit trail is simple--examine the entry in the accounting system, go back to the statement and the receipt, which are in the same place. No need to file things twice--once in the accounting system and the again in the filing system. That's just redundant work.
The way they're doing it now is basically stupid. If you get pushback for wanting to do it more efficiently, look for another company to work for because inefficient companies go out of business in this economy.
This way, the audit trail is simple--examine the entry in the accounting system, go back to the statement and the receipt, which are in the same place. No need to file things twice--once in the accounting system and the again in the filing system. That's just redundant work.
The way they're doing it now is basically stupid. If you get pushback for wanting to do it more efficiently, look for another company to work for because inefficient companies go out of business in this economy.