# Tool & Supplies Receipts



## leehljp (Mar 19, 2017)

In the thread on HF class action suit, (click here), initially I didn't give it a thought. Then I got an email concerning it. There were 3 courses of actions. One was if you have receipts with a specific notation on it, then there was a specific amount that the purchaser could get back.

I signed up for email receipts several years ago. And I had enough for approximately $70 card for HF in-store use.

The point is that I get email receipts on from HD, Office Depot, Amazon of course, and several others. Some of these are tax deductible, some are good for warranty proof etc.

If you are not getting emailed receipts from tool, business, and home repair purchases, you should consider this. (I have a daily computer back up too.) If I had not checked the HF receipts in my email "tools" folder, I would have dismissed that suit. But I had the receipts and quickly saw that I could get $70 back. They changed the way the receipts were issued (the legal problem) a few weeks before I bought an air compressor or I could have probably had nearly twice that. 

Electronic receipts are the way to go for many reasons. BTW, you can get a printed one and an electronic (emailed) one in most places. Very helpful.


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## ed4copies (Mar 19, 2017)

At many on-line stores (including ExoticBlanks.com), once you establish a log-in name and password, all your transactions are stored.  You can access them by going to "my account" (as is the case at most of the on-line companies I frequent for my copier dealership and parts purchases).  

This allows you to see your past transactions any time--making repeat purchases easier ("What was that part number, the last time I needed this thing"??)

Of course, as we approach April 15, the tax advantages of instant records IS a big help!!


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## jttheclockman (Mar 20, 2017)

I buy things with cash. When I get a receipt for something I use for tax purposes I put in an envelop marked with the year receipts. Been doing this ever since I started my business and for this works too. If i get things on line I do the same thing with the invoice. Just have to be prudent with it. 

As far as the HF thing goes not to many receipts there so I am not wasting my time with that.


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## Skie_M (Mar 20, 2017)

Just keep in mind that as long as you have a viable backup, you should be good to go.

Some companies out there use a thermal-printed paper ... the "ink" is a clear pigment that is applied all over the face of the paper, and in order for the printing to appear, they use a roller that has been heated with a coil or a laser diode in specific patterns, which is then pressed against the paper.  The issue with this is ... you get the paper hot and it turns totally black ... over the course of several months, the ENTIRE paper turns back to white (the "ink" slowly fades back to clear).

For this reason, many people take their important receipts and "back them up" by photocopying them while they are fresh and legible ... the photocopy uses an indelible ink that will last for decades.


Wanna see what I'm talking about?  Grab a McDonald's receipt and hold it near a heater without catching it on fire .... the face will turn totally black while the reverse is still a pristine white.


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## CREID (Mar 20, 2017)

Skie_M said:


> Just keep in mind that as long as you have a viable backup, you should be good to go.
> 
> Some companies out there use a thermal-printed paper ... the "ink" is a clear pigment that is applied all over the face of the paper, and in order for the printing to appear, they use a roller that has been heated with a coil or a laser diode in specific patterns, which is then pressed against the paper.  The issue with this is ... you get the paper hot and it turns totally black ... over the course of several months, the ENTIRE paper turns back to white (the "ink" slowly fades back to clear).
> 
> ...


I spent 30 years in the ink industry. I have watched more thermal paper go through printing presses than you could imagine. And all I have to say is. LMAO.


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## jttheclockman (Mar 20, 2017)

Have never had a problem. Was audited once when I first started and that was over 25 years ago. Had all receipts and in pristine shape. I do not save any Mcdonalds receipts but good to know if I go on the road.:biggrin:


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## leehljp (Mar 20, 2017)

jttheclockman said:


> I buy things with cash. When I get a receipt for something I use for tax purposes I put in an envelop marked with the year receipts. Been doing this ever since I started my business and for this works too. If i get things on line I do the same thing with the invoice. Just have to be prudent with it.
> 
> *As far as the HF thing goes not to many receipts there so I am not wasting my time with that*.



But John, don't you have a harbor freight scroll saw? :biggrin: :biggrin: :biggrin: :biggrin: :biggrin:


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## jttheclockman (Mar 20, 2017)

leehljp said:


> jttheclockman said:
> 
> 
> > I buy things with cash. When I get a receipt for something I use for tax purposes I put in an envelop marked with the year receipts. Been doing this ever since I started my business and for this works too. If i get things on line I do the same thing with the invoice. Just have to be prudent with it.
> ...




Yea 6 of them. I use as boat anchors. :biggrin::biggrin:


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