ATM slips might be better than nothing, but an auditor is going to need more than ATM receipt. For all the auditor knows, you’re taking the cash and pocketing it.
My recommendation is to buy one of those $5 receipt books at Staples (or office supply store of your choice). Have the vendor at the swap meet write you a receipt for each purchase. Since you are providing the book, they have no excuse not to. Make sure to specify the date, merchant name, products purchased, amount due and payment method.
If you want to get really technical: Make sure to get a W-9 from the merchant if you ever buy more than $600 of merchandise from one vendor over a calendar year.
I don’t even get paper statements mailed anymore, but it still applies to the online statements. You might see something you don’t remember doing and need the physical slip to verify it.
Tho I don’t check twice a day. I’m lucky if I check even once a month, to be honest. And I do take out a lot of cash; I go to a lot of cash-only establishments.
The month he moved away from that neighborhood, the bank replaced their aging ATM with a shiny brand-new unit…
Trouble ATMs are much like criminals. 5% of the ATMs out there generate 95% of the trouble.
