I had been using my own version of this system until about September of last year, and it worked brilliantly for me.

Now that I have replaced my moleskin with a sleek little smart phone you may have heard of, I just take pictures of the receipts I get through out the day, and only keep the ones I need to keep. The rest go in the recycling bin as soon as I come across one.

How do you use Moneydance?

It’s probably not the best place to start if you’re completely unfamiliar with the subject, as some of the shorter entries take the reader’s expertise for granted. Take, for example, March 6th’s entry:

Business rates are an administration expense

“The House of Lords has decided that business rates must be paid before administrators take their remuneration.  The effect of the ruling in re Trident Fashions, Exeter City Council clarifies a position that has been uncertain since early 2006.”

I spent a few minutes on Google after reading that one. But generally a cursory knowledge of finance and law will let you access the insight and commentary that “1BankBlogger” provides on a regular basis.