I have a folder for each bill that I keep for a year. At year's end, after taxes I shred them.
I've been taking each bill as I get them and matching them up with the receipts from the items I purchased during that month and then putting them into the envelope the bill came in (use bill pay online). This way I am recycling the envelope and making sure there aren't double charges on the bills. I had this happen twice and since then I've instituted this practice. I do the same with my checking account.
If there's a rebate that needs the original receipt. I just copy it on my printer/copier/scanner.
I don't know if this has been addressed but this has greatly helped me in locating recipts for returns and keeping an eye on those sneaky restaurants who may add more to the tip and any accidental double charges by banks.
HTH and if you have any suggestions for improving on this, please let me know.