What to Do With Your Receipts
How to store receipts and invoices so you can prove every expense when your accountant or the IRS asks.
A receipt proves what you bought, when, from whom and for how much. Your bank statement shows that money left the account, but not what it was for. Keep a receipt for every business expense.
Fynance does not store receipt files yet. Keep them in a cloud folder, such as Google Drive, Dropbox or OneDrive, and link them to your transactions with the description, as shown below.
What to keep
- Receipts and invoices for every business purchase: software, ads, equipment, travel, meals, services.
- Invoices from contractors and freelancers you paid.
- Bank and card statements (monthly).
- Contracts and agreements with clients and suppliers.
- For travel and meals: the business purpose and who attended.
Set up a receipts folder
- Create a folder called Receipts in Google Drive (or your preferred cloud storage).
- Inside it, create one folder per year and one per month, for example 2026 > 2026-10.
- Name each file with date, vendor and amount, for example 2026-10-12 Apple 1800.00.pdf. This makes searching easy.
- Forward email receipts or save them as PDF directly into the month's folder. For paper receipts, take a clear photo with your phone right away.
Connect the receipt to the transaction in Fynance
- Open the transaction in Transactions to see Transaction Details.
- In Description, add a short note of what it was and where the receipt is, for example "New laptop for design work. Receipt: Drive 2026-10".
- Confirm the transaction.
How long to keep receipts
The IRS generally asks you to keep the records that support your tax return for at least 3 years after you file, and longer in some situations. Many accountants recommend keeping everything for 7 years. Ask your accountant what applies to your company.
Give your accountant view access to the receipts folder. Together with access to Fynance (see Giving Access to Your Accountant), they will have everything they need.