Keep proof of ALL business-related expenses. EVERY. SINGLE. ONE.
Proof of business-related expenses can include receipts, cancelled checks or bills and are very important for preparing your taxes as well as helping provide accurate screen shots of your business’s financial health!
You work hard enough as it is, so keep back up documents (receipts) just in case!
The easiest way to keep track (remember those receipts may fade!) is by using an app that you can simply snap a pic of your receipt and store.
However, if you are using software like QBO or XERO, you can attach receipts directly to your transactions!