Tracking the Money/Expenses

[Travis Buchanan]

Hi all,

I think I got some advice on tracking expenses and such when I started out, such as "never pay in cash, always write a check" etc.  I was hoping to get some better defined guidance from the community.

1) For the most part, I have receipts of supplies/materials I bought at Home Depot.  They have an ability to register there, so I can see all my business receipt history.  I may not have kept the original receipts, but will I be fine just to print out any that I may be missing from the online portal?

2) I have traditionally paid my landscaper by checks, but I have no receipts.  Will I need to create them for him?

3) I used a local contractor for hanging exterior doors.  Similarly, paid in checks, but no receipt.

4) Drywall/paint/trim paid by checks, no receipt

5) Plumbing work (resetting drainage/p-traps/ventilation), paid by checks, no receipt. 

I am assuming that I will need receipts for every transaction that came through my business bank account, or credit card charges.  I am envisioning opening up all my repository of receipts, and ensuring that I have one, or able to print one out, for every transaction.  Is there an easier path to rectify all of this?  Creating receipts for my landscape or plumbing help?

Also, I overheard someone saying that any expenses over a certain amount would require a higher level of scrutiny, or formality, as a business-to-business transaction.  Is this true?