What to Keep: A Simple Guide to Business Receipts & Records

🧾 What to Keep: A Simple Guide to Business Receipts & Records

As a small business owner, it’s easy to get overwhelmed by paperwork and digital clutter. But when it comes to financial documentation, knowing what to keep (and what to toss) can make a huge difference—especially when tax season or an audit rolls around.

✅ Essential Receipts to Keep:

• Meals & Entertainment – Only if they’re business-related. Be sure to jot down the purpose and attendees.

• Travel Expenses – Save those flight, lodging, and transportation receipts. Don’t forget mileage logs!

• Office Supplies & Equipment – Anything you purchase for work should be documented.

• Marketing & Advertising – This includes online ads, printing, social media tools, etc.

• Software & Subscriptions – Monthly or annual charges related to your business.

• Contractor Payments – Keep documentation for 1099 contractors, including invoices and payment confirmations.

• Tax Documents & Bank Statements – At least 3–7 years’ worth for compliance.

💡 Pro Tip: Go Digital

Paper receipts fade, get lost, or get tossed accidentally. Instead, scan and store them in tools like:

📁 Google Drive, Dropbox

📷 Receipt apps like Dext, Hubdoc, or QuickBooks Receipt Capture

🎯 Final Thoughts

Being organized with your receipts isn’t just about compliance—it’s about confidence.

When your financial records are clear and complete, you’re empowered to make smart decisions, avoid penalties, and grow with peace of mind.

Need help organizing your receipts or getting your books in order?

That’s what we do at Book & Balanced.

📩 Let’s simplify your systems so you can focus on building your brand.