Receipt Log Template

A simple daily or weekly log to record receipts as you get them. Prevents the year-end shoebox-of-receipts problem.

Why this matters

Missing receipts are the leading cause of disallowed deductions on IRS audits. A running log prevents the year-end scramble and dramatically reduces lost deductions.

The 'Cohan rule' allows the IRS to accept reasonable estimates for some categories when receipts are lost, but it does not apply to travel, meals, entertainment, or listed property.

Digital receipt capture (photograph + cloud storage) is fully acceptable to the IRS as long as the images are clear and organized.

How to use it

Log every receipt within 24-48 hours of the purchase.
Record date, vendor, category (matching your chart of accounts), and description.
Note the payment method, this matters for reconciliation and reimbursement.
Enter total amount and tax separately (needed for sales-tax filings).
Mark 'Y' when you've filed the physical or digital receipt.
Reconcile the log against bank/credit card statements monthly.