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Why You Should Keep Receipts

They’re small, flimsy and crinkle so easily, that sometimes they seem to disappear from your fingers. Receipts, receipts, receipts. When you make a purchase, you hand over some form of payment and you’re given change and a receipt.

The front of the receipt usually lists:

1. Store details – the name of the store, the address and the telephone number.
2. The date and time – the date and time you made the purchase.
3. Your purchase details – item name, sometimes an item code, the price and applicable taxes.
4. Amounts – A subtotal, total taxes and a total showing what you owe and what was paid
5. Details of the payment – the type of payment whether it be cash, credit, debit or cheque.
6. A salutation – Most receipts usually say something like “Thank-you for Shopping Here!”

The back of the receipt is very important as well. Many stores list their item return policies here in small print. When purchasing an item, be sure to make note of the return policy. Some stores will not accept returns without a receipt and returns must be made within a specified time. If you’re purchasing an item online, make sure to save a copy of the purchase receipt and email it to yourself.

Receipts that are printed on thermal paper fade over time. There are several ways to combat this:

1. Photocopy the receipt as soon as possible after you receive it and staple it onto the original.
2. Scan the receipt and keep the original in a diary or notebook.
3. Register items that can be registered online. This can confirm proof of purchase if you ever need to return an item.
4. Invest in some receipt scanning software and hardware.