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What Should You Do With Customer Receipts?

In summary, at Pampered Chef, consultants are encouraged to keep track of their receipts for tax purposes. It is recommended to keep physical and digital copies of receipts for organization and accessibility. Receipts should be kept for at least 3 years and should include purchases of products, business supplies, expenses for hosting parties, and any related travel or meal expenses. It is possible to deduct certain business expenses from taxes, but it is advised to consult with a tax professional for specific guidelines.
apriljc
554
Hey I am trying to clean out my office but I am having a hard time deciding what to do with some paperwork. What do you all do with the receipts that customers fill out? So far I have kept them all in a box but now I am wondering if I really need them since I have them all ordered and in PP. Just wandering if I need to keep them?
 
I save them for a year and then pitch them, just in case my computer crashes and I don't have the info. But I also always back up too--but ya just never know!
 
I save them until I do my follow up call (usually within 30 days from show). Then I shred them. I also have the information on disc back up. No reason to have all that paper just sitting around.
 
Here is an Idea...

Scan the reciepts into an excel document to use as an accounting tool (to keep track of finances tjroughout the year and so on).

Have a "Back the truck up, Chuck" party and invite all the past guests. Place ALL of the reciepts into a jar. Do your normal shindig, food, drink, demo and every 15-20 min, draw a reciept and give away a prize, free show...etc. Then shred them after the party.

OR

Call all the people on thwe reciepts and tell them if they can send you a copy of the matching reciept that you have they win a prize, show...and get some bookings or orders out of it.

Just a couple of ideas that are "out of the box"
 

Related to What Should You Do With Customer Receipts?

What do you do with receipts?

At Pampered Chef, we encourage our consultants to keep track of their receipts for tax purposes. It's important to keep an organized record of your business expenses for tax deductions.

Do I need to keep physical copies of my receipts?

While it's always a good idea to keep physical copies of your receipts, we also recommend scanning or taking photos of your receipts and keeping digital copies. This will help with organization and make it easier to access your records.

How long should I keep my receipts?

It's generally recommended to keep receipts for at least 3 years in case of any audits or discrepancies with your taxes. However, we suggest consulting with a tax professional for specific guidelines.

What types of receipts should I keep?

Any receipts related to your Pampered Chef business, such as purchases of products, business supplies, or expenses for hosting parties, should be kept. It's also a good idea to keep receipts for any travel or meal expenses related to your business.

Can I deduct my receipts from my taxes?

As a Pampered Chef consultant, you may be able to deduct certain business expenses from your taxes. It's important to keep track of your receipts and consult with a tax professional for specific deductions that may apply to your business.

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