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Get a 21 or 26 pocket expanding folder
  • Get a 21 or 26 pocket expanding folder

  • You can pick these up at most office supply stores

  • Be sure to get 21 or 26 pockets, many of these folders are 12 pocket so look carefully

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Label it with these expense categories.
  • Label it with these expense categories.

  • This matches the expense categories in ProfitGauges, and also match the way you should be categorizing your expenses on your Federal Tax Return.

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Now your receipts have a home, whenever you get a receipt, simply put it in the slot for that expense category. Here are some tips on handling the receipts.
  • Now your receipts have a home, whenever you get a receipt, simply put it in the slot for that expense category. Here are some tips on handling the receipts.

  • Don't keep more than one copy

  • Keep the best copy, white is better than colored, then throw away the rest

  • If you are not going to be scanning your receipts, make copies of of any receipts on thermal paper.

  • You can easily store an entire year of receipts and settlements in just one of these expanding folders, as long as you are only keeping what is necessary

  • If you run out of room you are keeping too much.

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Create a form like this one and stick it in the front slot of your folder.
  • Create a form like this one and stick it in the front slot of your folder.

  • Then set a reminder on your phone, computer, calendar, or whatever you use to stay organized, to write down the truck odometer reading on the first day of every month.

  • This is the number you will use to calculate Cost Per Mile.

  • If you did nothing but these first 4 steps all year, you would still be more organized than 90% of the owner operators on the road.

  • If you're ready to go to the next level of bookkeeping, follow the next set of steps to learn how to scan your receipts and organize them in a digital filing cabinet.

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Be Safe, Be Profitable, and Master the Journey

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Buy and install the Neatdesk or NeatReceipts Scanner and Software as per mfg, instructions. Spend some time making test scans to get familiar with the scanners functions
  • Buy and install the Neatdesk or NeatReceipts Scanner and Software as per mfg, instructions.

  • Spend some time making test scans to get familiar with the scanners functions

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Once you have installed and familiarized yourself with the scanner and the software you can begin setting it up for your business bookkeeping
  • Once you have installed and familiarized yourself with the scanner and the software you can begin setting it up for your business bookkeeping

  • Use the "New Folder" Button and create a folder called "Accounting"

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Repeat the last step and this time name the folder "Communication"
  • Repeat the last step and this time name the folder "Communication"

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Continue creating folders until your have one for each of the expense categories.
  • Continue creating folders until your have one for each of the expense categories.

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I recommend that you do your scanning and data entry just once a month
  • I recommend that you do your scanning and data entry just once a month

  • At the end of the month, open up your expanding folder and choose the receipts out of the first slot, in this case it's communication (there were no receipts in the accounting slot)

  • Choose the corresponding folder in Neat.

  • Load the documents up and press scan.

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Verify or edit the receipt info so that it is correct
  • Verify or edit the receipt info so that it is correct

  • Date

  • Cost

  • Expense Category (use the same category as the folder, in this case, communication

  • Staple the receipts together and put them right back into the slot in the folder. That way they won't get mixed up with the next month.

  • Continue scanning and editing until you have finished your folder.

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Now you can print a report with your monthly totals
  • Now you can print a report with your monthly totals

  • Choose Report

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Select Spending Summary
  • Select Spending Summary

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Choose Group by expense account
  • Choose Group by expense account

  • Choose sort by Receipt date

  • Select next step

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Highlight the "MyCabinet" Folder, that selects all folders below it.
  • Highlight the "MyCabinet" Folder, that selects all folders below it.

  • Click add a filter

  • Choose receipt date

  • Set it to the month you want to report on, in this case January 2011

  • Click apply

  • Click next step

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You now have a report of the monthly totals that you can enter into the ProfitGauges System
  • You now have a report of the monthly totals that you can enter into the ProfitGauges System

  • ProfitGauges

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Be Safe, Be Profitable, and Master the Journey

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Finish Line

36 other people completed this guide.

Attached Documents

Kevin

Member since: 11/02/2011

5,615 Reputation

4 Guides authored

One Comment

I scan in what few paper receipts I get but 80% are already PDF like my profit gauges receipt I put them into a digital version of your 21 pocket folder. 1) what would be the purpose of printing the pdf's out and putting them in the folder if your going to scan your reciepts in anyway? 2) If your scanning receipts why even have the 21 pocket folder? It seems like your adding a lot of unnecessary steps.

Ronald Sanford - Reply

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