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Mike Mancini introduces a five-minute hack to manage an overwhelming number of receipts accumulated monthly or yearly. He discusses the challenge of juggling physical receipts from various activities, such as meals and client meetings, and the added complexity of managing digital receipts that arrive via email. Often, he ends up tossing these receipts into a box, leading to a daunting task during tax season of sorting through them all. This process results in a crowded folder of receipts for his accountant. The tutorial promises to simplify this receipt management issue for better organization and efficiency.