How to Organize Monthly Statements and Receipts

Use a binder to organize your monthly statements and receipts.
Use a binder to organize your monthly statements and receipts. (Image: Hemera Technologies/ Images)

Records management and record retention are not just for the workplace. If you still receive paper statements and bills each month and save your daily receipts, you need a system to help you file, organize and store your bills, statements and receipts so you can easily find them when necessary. You can create your own inexpensive bill organizer in just a few basic steps.

Things You'll Need

  • 3-ring binder (1 to 3 inches)
  • Package of plastic sheet protectors

Place 20 to 50 sheet protectors into your binder to create a bill organizer.

Place monthly statements into the sheet protectors as you receive them and pay bills. Use a different sheet protector for each payment type (mortgage/rent, auto payment, cable bill, cell phone bill, et al.). Each month, put the most recent bill or statement in front of the previous month.

Include all types of statements (one provider per sheet): medical expenses, insurance (mortgage, home/renters, auto, life), credit cards, investments, tax items and more.

Leave the last six to 12 protector sheets empty. Place all your monthly receipts from daily spending and expenses into these sheets. If you don't have many monthly receipts, you can place two months' worth into one protector sheet (one month in one side, the next month in the back/other side).

Continue this effort all year. At the end of the calendar year, you will have all your statements and receipts organized and filed in one bill organizer binder. This is helpful when completing and filing your tax returns and submitting reimbursement requests.

Create another bill organizer binder at the end of the year or beginning of the new year. Place the previous year's binder in a safe place. Create a records management policy and determine how long you will retain records. For example, tax-related items should be retained for seven years.

Tips & Warnings

  • To save space, choose a soft-covered binder.
  • If you receive electronic statements for a limited time, save the documents on your computer so you can access them for longer periods. If you print, include them in your binder.
  • Add or remove sheet protectors and upsize or downsize the binder as needed.
  • Keep your binder in a secure place. It contains all your account numbers, financial information and more. Write down account numbers and important information and keep in a second location, in case your binder is stolen.

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