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Mike Mancini shares a five-minute hack to manage the accumulation of receipts, which often piles up at the end of each month or year. He details his own experience, where he regularly collects physical receipts from lunches and client meetings, resulting in a clutter of receipts he tosses into a box. Alongside physical receipts, he also receives multiple digital receipts daily, complicating the process further. To simplify this routine, he emphasizes the need for an organized system instead of overwhelming his accountant with disorganized folders at tax season. The key focus is on finding an efficient way to handle and organize receipts.