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Denise O

Bookkeeping Question Regarding Expense Receipts

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Hi all,

 

When it comes to reviewing your client's receipts, do you expect them to provide all receipts to you? If some receipts are missing, do you follow up with the client to ensure that every receipt is accounted or do you go ahead and submit the transaction providing it is clear what the transaction is? I have one client who is very good and we always work together to ensure that, if possible, every receipt is accounted for. If she is missing anything, I follow up and wait to enter the transaction until I have the receipt. This way her and I both know all receipts are accounted for and her books are in order. This is how I prefer to work. However, another client that I have is not very good and providing all receipts. It causes many delays with followups etc. and she is always looking at reducing her costs. I decided to proceed with many transactions without receipts if they are not available to help save her costs and have advised her of this. Just wondering if this is acceptable or, as a proficient bookkeeper, do you always insists on seeing every receipt, if possible, before submitting the transaction? My feeling is to always see receipts if possible and only work in the other manner for the more difficult clients who don't produce when needed and complain about costs.

 

Thanks

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I just send a spreadsheet of my expenses monthly to my bookkeeper to enter and do not provide her actual receipts. It's my responsibility to file the receipts in my office appropriately and mark on the spreadsheet so she never sees the actual receipts and I'm good with that. It will be my problem if ever audited to provide actual receipts not hers. Saying that if you are responsible for your client in providing the actual receipts in case of an audit then yes, you'd want to get them from the client for your records before you enter same.

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Hi Denise,

 

I too like to have all receipts when booking expenses (not only the credit card statements for instance), because we get details on what the expense was about, and tax splits, and I explain these advantages to my clients.

 

If the customer can't or doesn't want to bother with supplying me with all the receipts, I have them sign a Waiver of Liability.

 

If my client supplies me with receipts and some are missing, I look at the amount: if it is considerable I will ask them if they have the invoice. If the amount is.. you know, 5$, I don't ask my client and just book it (because just one receipt missing here and there isn't problematic).

 

 

 

Nadine LeBrun | Onyxia Bookkeeping

Bookkeeper and Accountant

Certified QuickBooks Online ProAdvisor | Xero Certified Advisor | Certified QuickBooks Online Payroll

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I agree with everyone. In a perfect world it would be great to have all the receipts but sometimes that is just too difficult. How many times do you get a receipt and just throw it in your never ending abyss known as your purse only to be lost forever :).

 

I think I would just put in my engagement letter that you are not responsible should the customer not give their receipts to you and just as another cover my butt thing, I would make a list to give to my customers to have them sign off of receipts I didnt have.

 

Tracy Collins

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