Receipts are incredibly important for business owners. From maximizing tax deduction to dealing with CRA, having that documentation is critical. Tracking receipts doesn’t have to be complicated, all you need is a good system.

Here is a simple and free way to track receipts with Google Drive:

1. Take a picture of receipt
2. Create folders for each month
3. Name receipt with appropriate name

Take A Picture Of Receipt

Take a photo of your receipt with your phone, ensuring it captures the entire receipt.

Create Folders 

In Google Drive, create folders for each month of the year, for example “January Receipts” or “February Receipts.”

Name Receipt With An Appropriate Name

Upload the receipt photo to the folder corresponding to the month of the purchase. After uploading, make sure to give it a descriptive name. It doesn’t have to be super complicated, you can do something like “Staples Oct-17-2023”. That way, you know when and where the purchase was from.

There you have it. You have a simple and free way to track all your receipts. With that in mind, you’ll be able to claim all eligible expenses, maximize deductions, and reduce any tax liabilities. 

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