Tracking Methods
 

I've searched the New to MS and Loss in MS threads hoping to find some information on a good system to track MS. The best I could find was "keep your receipts in a shoe box or manila envelope". Is anybody using a more sophisticated system? I keep the receipts, used VR/GC, use Mint and see all deposits/CC transactions, but these do not give all the details to see which GC/VR went to pay off which CC or purchase an MO.

So far this has not been a problem, as my monthly spend is only $10K. But as I expand, I see that a more detailed tracking system would be necessary. Anybody cares to share their tracking methodology?

I made a spreadsheet for it.

I have a spreadsheet that has what/when/where/how I bought it and the same for liquidating.
Milenomics has a post (or maybe two) on his tracking system, might be worth checking out.

I recently picked up a Fujitsu fi-7160 scanner. I scan all receipts & GCs with it. It can scan a stack of 20-25 GCs in under 10 seconds. The software that comes with it OCRs the numbers off the front of the card and indexes them all in an excel file. This significantly cuts down on my physical storage requirements.

As far as tracking outlays/transactions, I've used Quicken for about a decade.

On a really basic level, excel spreadsheet with; method, money in, money out, and columns for points earned is pretty easy. I just appended it to my normal tracking spreadsheet I use to follow my accounts and purchases day to day. Copy it over every month and voila.

I recently received a phone call from a bank's Compliance/AML department. After that, I decided to really improve my record keeping. Here's what I do:

When I purchase VGCs, I put them in an envelope with receipt
Immediately proceed to liquidate by MO and/or BP. Put those receipts in same envelope.
If I deposit MO at a bank, I put the receipt in the same envelope.
Date and seal the envelope and file chronologically.

When I purchase VRs, put them in an envelope with receipt
As I load them, I write with a permanent marker on the front of VR the date I loaded it and to what BB account.
Once all VRs from a single purchase are burned, I wrap the purchase receipt around the bunch and tape it all up.
File it in chronological order.

This way, if ever a bank or other entity has issues with what I'm doing, I simply show the circle of purchase, burn, payoff.

Also, when I buy VRs or GCs, I tell the staff what I'm doing. I don't want to raise suspicions, so I simply say that I have a special promo where I earn extra points and am trying to save up enough for a free plane ticket. Most cashiers seem to like that explanation and can relate to that. I learned that acting shifty or otherwise secretive is a good way to raise suspicions. Who doesn't want to get a free airline ticket???? Seems to be working well for me right now.

Ole!

I've used Pocket Money on an iPad for a few years. Since the last OS update it crashes a lot but its still invaluable to me.

Every checking account, debit or prepaid card, credit card, or gift card gets its own account and I can enter debits, credits and transfers between accounts.

Its tedious and complex, but that's what MS means.

BTW, does anyone know of an app that can track multiple bank accounts (like 6-7)? I'd like to be able to do all my updates in one place. Right now I have a spreadsheet with all my bank accounts. I'd love to be able to do this with an app or online program.

Try mint.com, it is free and lets you keep track of bank accounts and CCs.

Once I buy a MO, do BP or load VR, I dump all physical records and rely on my digital online records. MVD was a problem because they block the login access to my account, no worries I have no more MVD, no more fear, no more headache.....

I was actually looking for something like a check register, but that handles multiple accounts. I think Mint just spits out the info in the accounts, right?

Any other ideas?

Eh, can't say dropping $1k on a scanner is exactly in the spirit of MS.

I suggest starting small and growing as your MS does, over time my spreadsheet has grown more and more complex, checking between various MS load/unload and flagging parts that don't match up for further review within a % of error, then automatically moving 'acceptable' data for safe keeping.

Beyond that, physical items (GC, VR, receipts, etc etc) all get wrapped together by transaction, then put together chronologically by month in a shoebox for safe keeping in case something occurs that requires the physical medium.

I don't feel like paying monthly for a storage unit, so I must digitize my records. There are only 24 hours in the day and I hold a full time job, so I can't be waiting around for a mediocre scanner. Do not be penny wise and pound foolish.

Most folks seem to keep detailed information and receipts .. for some reason I didn't see much value in keeping receipts once I deposit my GC's and the money is in my BB account.. I rely on by credit card statement and BB / bank account statement to tally in and out every week.

Are there any risks that I should be worried about by not having receipts ?

I currently use Quicken for all of my accounts.
Bluebird - Checking
Target AMEX - Credit Card

Lots of transfers between credit cards and these accounts so I can keep track of where the money is going.