Expands but only at the top not at the bottom so when it's full it will not stand up but tip over. Also the dividers are not fastened to the bottom so small papers (like credit card receipts) could slide under the divider and not be in the divider you expect them to be.
I work from home and save every receipt for business purposes. This folder is perfect. I put receipts in the folder (by month) on a daily basis. I have folders for each year. I can hand those over for accounting and not think twice about them.