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Where Taxpayers and Advisers Meet

How Should I Prepare my Receipts for Accountant ?

Posts: 1
Joined: Mon Apr 04, 2016 4:34 pm

How Should I Prepare my Receipts for Accountant ?

Postby VictoriaZ » Mon Apr 04, 2016 4:44 pm

Hi all, newbie here.
I'm going to get proper audited accounts done this year, so will be hiring an accountant soon to sort out the 2015-16 return. I am unsure how to best organize all my receipts for him - I know he won't want them all dumped in a carrier bag !

So I figured it must be one of these ways, but don't know which :

1. Put all receipts across all different categories of expenses (eg, postage and stationary, supplies, utility bills, etc, all together) into one folder for each month of the year


2. Get my pile of folders, put stickers on each of them so each folder represents a different category of expenses, then say for example, on the postage and stationary one, I stick receipts for the whole year for this category in together

3. Or am I supposed to fine- tune it and do this : Get a folder for each month of the year. Inside this folder, put all receipts for one category of expenses (eg postage and stationary) into a sub folder, then put all receipts for another category (eg supplies) into another sub folder, and so everything is segregated for that month. Then repeat across all months


Posts: 3252
Joined: Sat Feb 01, 2014 3:26 pm

Re: How Should I Prepare my Receipts for Accountant ?

Postby bd6759 » Mon Apr 04, 2016 5:38 pm

2 should be sufficient.

Posts: 924
Joined: Wed Aug 06, 2008 3:28 pm
Location: Loughborough

Re: How Should I Prepare my Receipts for Accountant ?

Postby jpcentral » Mon Apr 04, 2016 5:50 pm

Simple answer - Ask him.

More complicated. He might prefer a carrier bag. If you sort them, how does he know that you have done them correctly? He will probably end up going through each one to check just in case.

If you feel confident about correctly sorting and allocating them, why not speak to him about using one of the cloud bookkeeping systems and you enter the information on there. That could really save him time - if you do it correctly. You could then reconcile your bank(s) too.
John Perry
Central Business Services

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