What is an electronic receipt?
An electronic receipt is a digital solution that allows you to access your receipt digitally. Like a physical receipt, an electronic version is proof of your purchase – whether it’s for goods or services. This applies whether you buy as a private individual or as a company.
You can access more and more receipts electronically as part of digitization, but also as part of greater consideration for the environment as companies reduce paper consumption.
You can collect your receipts in an app every time you make a purchase for work with Acubiz
With Acubiz, you streamline and create an overview of your expense management.
What does an (electronic) receipt contain?
Regardless of whether a receipt is physical or electronic, it must contain the following information to be valid:
- Purchase date
- Name of product/service
- Price
- Name of store
- Rules for exchange/return
Why are receipts important? 5 good reasons
Receipts play a critical role for both individuals and businesses for several reasons. Find out more below.
1. Documentation
Receipts act as documentation for your purchases. They are necessary when you need to return items, as many stores require a receipt to accept a return.
If a product is defective, you’ll also need the receipt to make a claim.
2. Legal Security
For Danish companies, it’s a legal requirement to offer buyers the option of getting a receipt with a purchase, whether it’s goods in a supermarket or a haircut at the barber’s. Without a receipt, it can be hard to prove that a transaction took place.
3. Accounting
For businesses, receipts are essential for bookkeeping. They are necessary to deduct expenses for tax purposes. A lack of documentation can result in fines or sanctions.
Receipts help keep track of expenses and revenues, which is crucial for accurate budgeting.
4. Financial Control
Receipts provide better control over finances. By saving receipts, you can monitor your spending and identify areas where you could save money.
Furthermore, receipts can be used to detect and prevent fraud, as they allow for matching receipts with bank statements to ensure all transactions are legitimate.
5. Environmental Benefits
Electronic receipts have environmental benefits. They help reduce the need for paper and decrease waste, safeguarding the environment.
Digital storage requires fewer resources and can lower the overall costs for businesses – it also contributes to a more sustainable future.
A receipt app helps with receipt chaos
You might be familiar with how paper receipts tend to get lost. That ends if you gather your electronic receipts in an app.
A receipt app helps you keep track of all your receipts, avoiding chaos in your documents. It enables you to:
- Gather all your receipts in one place.
- Access your receipts anytime, anywhere.
- Integrate receipts with other digital solutions quickly and easily.
All this helps you save time and resources, so you can focus on what is important.
Do you want to know more?
With Acubiz, you can also get automatic and digital handling of expenses on your corporate card, so you get fast registration and handling of receipts purchased with the card.
It provides efficient and quick handling of expenses on the go, so you no longer have to deal with unmanageable administrative tasks.
Contact us if you want to know how we can help your business or book a free online demo to learn more.