Using a physical scanner is a traditional way to store receipts. The top three (3) apps for taking photos of your receipts are: Using a mobile app is the easiest way to capture a receipt and save it for your records. ![]() ![]() There are two (2) ways to scan a receipt: Mobile App The fastest way to make a receipt is to download templates in Adobe PDF, MS Word, OpenDocument. A receipt from a traditional cash register is made from thermal paper with heat being applied as the “ink”. The main difference is a receipt is only given after payment has been made and an invoice is a demand for payment.Ī receipt is made after a transaction has occurred that details the price of the goods or services along with any taxes, discounts, shipping fees, or other line items. Source: IRS – How long should I keep records? Receipt vs Invoice If a business claimed a loss for any tax year, then the receipts for that year must be kept for seven (7) years. ![]()
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