Any receipt gained in connection with the business or work conducted is considered an expense receipt. So when making purchases on behalf of the company, such as for travel to a customer meeting or buying equipment for the office, you’ll require an expenses receipt in order to capture or claim back the cost. Traditionally, companies have required employees to attach these expense receipts to an expense report which is processed monthly in order to reimburse any costs to the employee.
Newer travel and expenses systems make processing expenses receipts much easier by providing applications which use camera phones to photograph the receipt and then scan all the key details through OCR technology. These are all the details required to be compliant with business expense tax regulations and make the process of managing expenses much faster and efficient for the employee.
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