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digital receipt

Receipt Making Tips

WHY DO SMALL BUSINESS OWNERS NEED TO USE DIGITAL RECEIPTS?

For small business owners, some needed materials in the workplace are:

  1. paper receipts
  2. ink
  3. printers  

These are required to provide a receipt to every customer that buys your products or services.

Receipts are usually a waste of paper for food-service businesses. Many customers don’t keep it, leave it on the cashier counter or throw it immediately in the trash. To avoid wasting papers you may consider using digital receipts as your main option, and printing paper receipts as your secondary choice.

Here are some basic reasons: 

  • Save money, paper, and other resources

You save thousands of money in a year by buying a roll of receipt paper, ink cartridge, and printer repair and maintenance. Your business supplies expenses will be minimized and you will be happy with the results. Sending digital receipts to your customers will cost you nothing but more earnings.

Going paperless saves mother nature as it helps to reduce C02 or carbon dioxide emissions. You will help save millions of trees that are cut down every year just to produce paper for receipt printing. Many receipt papers eventually end up in a landfill and it is not good for the environment as ink and toners also include vaporous chemicals and non-renewable ingredients.

  • Many customers favor e-receipts

Most people are aware of global warming and deforestation and they love helping the environment in their own little way. Accepting digital receipts when they shopped at any stores is more favorable for them. 

  • Helps you connect with your customers

By collecting your customers’ email addresses you will be able to communicate with them effectively especially during email marketing campaigns. Reaching your target audience will be helpful as you can send them an email regarding your upcoming Sale, special promotions, coupons for discounts, and other related special announcements. 

If this sounds interesting to you, this is the perfect time for you to start your digital receipt journey. With a good internet connection, you can use your smartphone to access the system. The ExpressExpense mobile receipt maker lets you create a receipt on your phone by downloading the app on Apple Store and Google Play Store. As a business owner, you can access the system anytime you want to monitor your sales of the day or monthly sales. You do not need to be in the office as it is accessible anywhere, 24/7. Even when you’re at home or during travel, monitoring your business transactions and expenses is easier and quicker. 

In case, you want to print the receipt using a Bluetooth thermal printer you need to download the Express Thermal Print app. It is also available on IOS and Android devices. The app will give you the option to print either a 58mm or 80mm receipt printer. Printing receipts is a piece of cake and you can do it at home or in the office.

Customers are getting used to faster and smooth transactions and using a receipt generator just like ExpressExpense can offer, is an advantage. It’s a win-win result for the customers and business owners.

Receipt Interesting Facts, Receipt Interesting Facts

The Use of Digital Receipts in Online Banking

With the advent of online banking apps, cash transactions have become easier for depositors and bank companies. When it comes to convenience of time, activity result, the accuracy of the transaction, financial security, and peace of mind, it brings exceptional service to everyone. No more lines and you don’t have to go to the bank to find the teller or bank manager just to ask how much money you have on your account. Digital banking services today are accessible 24/7. With the help of the internet, customers enjoy on-the-spot access from their smartphones or computer to the wide variety of their bank services.

  • Customers can check balances on their bank accounts
  • Customers can monitor and review each payment transaction made
  • Customers can pay bills monthly or anytime payment is needed to settle
  • Customers can set up automatic payment and reviewing instantly if the money is debited is easy as 1, 2, 3
  • Customers can transfer funds from one bank account to another
  • Customers can access the transaction history of their checking accounts
  • Customers can check if they were not charged by the merchant twice
  • Customers can easily identify any unauthorized transaction
  • Customers can file dispute instantly

With all the benefits mentioned above, organizing and verifying electronic receipts in every payment transaction, makes everything easier in the comfort of your home or anywhere you are.

The best advantage of using online banking is that you don’t have to worry about losing the receipts you have because everything is saved in your bank system and emails. You can even save or download each digital receipt, move it to the accounting software you use, or store it anywhere you want. Printing receipts becomes unnecessary. It is 100% eco-friendly, it saves paper and money, and you can just print it if you need it for personal or tax documentation.

The receipt generator is way smarter. So far so good for self-employed individuals and business owners when it comes to electronic receipt management systems. It is more useful because of the features offered and day by day, the administration of receipts is becoming a piece of cake. It also generates a good email marketing opportunity when it comes to promoting products and services. Its significance to business accounting is highly visible because of its digital approach.

Businesses that use automated receipt systems or electronic receipt makers are more likely to have more customers just like any popular e-commerce site because of its e-receipts innovation when it comes to shopping using different payment methods aside from using credit cards. Even with business-to-business (B2B) companies, it helps you to track real-time needed information that helps in collaboration and build stronger partnership with other companies to achieve smoother transactions. Just keep in mind that a business customer’s buying decision must benefit everyone involved with the company, it is more challenging than B2C, that is why your B2B marketing strategies need to be concise, transparent and appealing.

In the near future, the use of digital receipts will remarkably create a clear competitive advantage in the business industry globally. People enjoy the instant access and exceptional service of every merchant that uses an electronic receipt method.

Receipt Maker News

How Receipts Affect Digital Transformation

Digital transformation has a remarkably huge impact on businesses. From one business to another and so on, and forth. Whatever industry you are into, the amazing change that it has brought will reevaluate how it enhances your daily work operations and employee productivity efficiently and effectively. Integration is an advantage and advancement to your business system that allows you to stay creative and ahead in the competition.

On receipts transformation, the difference goes further when it comes to accessibility, security, dependability, expeditious work result, and minimizing cost. The system is manageable on computers and smartphones and business owners can access it 24/7 anytime, anywhere. The access demand on your end is higher and you can always monitor your sales and expenses whenever you want, too.

Business accounting matters and using electronic receipts is much easier to generate financial reports, it also supports the book journal used when it comes to filing tax returns, payroll administration, and any other accounting-related tasks. You will be able to monitor the financial performance of your company, how much money you receive, and how much money you spent. The collaboration with your assigned accountant or assigned employee is more effortless and concluding to make any decision is definitely much brilliant and accurate. It is indeed that receipts bring significance to business accounting.

One of the exceptional software on digital receipt generators that many businesses used is ExpressExpense. A lot of routine tasks become automated to avoid repetitive tasks thereby saving more time to dedicate to other relevant tasks. This is not just for financial reports, your accountant portal, lawyers reference, or you as an owner, but also for your most valuable assets – your CUSTOMERS.

Customers are your strength to your business and giving them the best service they deserve is highly commendable. You have to present your brand way better than others, and customizing your receipts is one of the keys to making your company more recognizable. Customization of receipts creates more opportunities in marketing and advertising, such as email marketing as this is one of the cheapest, most convenient, and fastest ways to keep your customers stay informed about your products and/or services and can reach more potential customers. You have to always think outside the box if you want advancement, improvement and better income.

By taking advantage of this digital feature you are: 

  • allowing your customer to make use of their receipts more meaningful when it comes to recordkeeping purposes such as exchange/refund used, a receipt reimbursement, simple memorabilia, and the likes
  • transforming the receipts into supporting legal document that describes all the data to be considered valid
  • minimizing human or administrative errors to avoid possible serious customer complaints 
  • minimizing financial reports inaccuracy 
  • flagging suspicious accounts for audit purposes

The required amount of time you are committing to your business will noticeably be reduced. Likewise, with your employees, the work productivity will be intensified and everyone will find ways to make your business operations run better. In general, the eradication of errors is improving. This is a positive impact that any business is aiming for.

If you achieved great results on your starting point, it is a good sign that you are on the right track and will improve over time and this can lead to more customers and boost your company’s profits.

Receipt Interesting Facts

Frequently Asked Questions on Receipts

If you were able to read the Interesting Facts About Receipts and you get inspired on how it is valuable to any business and customers, the following frequently asked questions will give you more insight about receipts.

  • Are digital receipts valid? Aren’t paper receipts tested and secured?

The Internal Revenue Service or IRS started accepting digital receipts four years ago and as long as it meets the basic recordkeeping principle, using an electronic system is allowed. You can read Use of Electronic Accounting Software Records; Frequently Asked Questions and Answers and 2017 Digital Services Report for more information. There are still some businesses using the traditional paper receipts and it is okay but keep in mind that innovation always matters.

  • Cabinet file storage for paper receipts are more secured and reliable?

It is less secure now when it comes to records privacy and less reliable as paper receipts get faded in due time and can be easily lost. And if you need them after 3-4 years, the information is not readable anymore as the thermal paper is sensitive.

  • Occasionally buying materials for your business is not entitled to tax claims?

It can be a small amount like $5, $10, or $15 but when you add up everything you will realize how much money you are spending that is why keeping receipts is a must.

  • You do not need to keep your receipts because the bookkeeper and accountant will do the receipt management?

Your bookkeeper and accountant can help you with recording expenses, preparing your accounting needs, and analyzing your business financial performance but then, the IRS needs supporting documents such as invoice or receipts for verification to make your tax claims valid. Make it a habit to organize your receipts every day or after recording expenses in your journal. You will notice how much money you can save on your accounting fees.

  • Is it impossible to get audited since I am running a small business?

Small businesses are most likely to get audited by the IRS especially if you are claiming hundreds of thousands of money. Maybe for the past few years, you don’t get audited but don’t be too confident because you might be on the list and you’re next. 

Receipt keeping can last from 6-7 years and if you use paper receipts the words and numbers printed might not be visible anymore. Electronic receipt management is the best way to keep your receipts intact as thermal paper cannot be useful after a few months. Using a receipt maker like ExpressExpense can help you save up office space and money and you do not need to buy more filing cabinets, paper, ink, folders for filing and minimize printer maintenance. Keeping records is just handy and less stressful, not just for you but also for your employees.

Receipts’ significance to business accounting is also useful for tax deductions and starting your digital receipt journey is a wise decision to do since everything around change and technology is updating for a better future for all business owners.

Receipts Significance to Business Accounting

A comprehensive financial report is needed in any business you are into for better decision-making. Digitizing your receipt or accounting method used is beneficial to keep track of your business operations.

Two of the major reason why we keep receipts is to:

Before, paper receipts are used as a requirement whenever an employee needs to reimburse something that was bought for the use of the company. Or attach it with a petty cash voucher for validity and transparency. This approach leads the way to accuracy in calculating business expenses. Because of continuous great innovation in technology, digitizing business resources is now considered standard and more convenient in managing business reports and expenses. A digital receipt maker is a tool that is used by many business owners, particularly SMEs or what we call Small- to Midsize Enterprises to improve the daily work productivity and customer-service goals – customer retention and growing the business. You do not need to scan or take pictures of every individual paper receipt you have just to submit on your online accounting system. Emailing receipts is much easier and quicker. With just one click of the button, you see great work development every day as many accounting systems today are smarter to recognize every receipt saved in the cloud which makes it simpler to categorize every expense.

Some companies still use the traditional method – the usual way of organizing and keeping data is using paper-based accounting systems or spreadsheet-based methods. Paper receipt management has found an impact on business operations and produces more wasted time and opportunity such as:

  • employees find it to be tiring and a burden because of the repetitive boring process
  • submission of expenses reports is getting delayed due to some employees waiting to reimburse their money spent on buying or paying company expenses
  • Bookkeepers have to verify every transaction if the amount spent matches the amount that is given on the receipt

It is fine to use the old process but many companies today are no longer required to save paper receipts. With digital use, you can print it if anytime you need it for the records. Yes! everything is saved in the system for later retrieval purposes. Whether you need daily, weekly, monthly, quarterly, or yearly reports to monitor your company’s financial performance, everything is handy, particularly during tax season.

Keeping a receipt is crucial to prove the transactions were made. No receipt, no transaction, no documentation. One of the most significant features of business accounting is saving all the receipts and accurately document every money spent in your company. Through these, you get to define your business activities as:

  • provable
  • transparent
  • understandable
  • logical

Managing your receipts digitally plus an online-based accounting system centralizes all your business financial management which helps you to access your financial reports anytime, anywhere. Whether it be auditing or administering tasks such as:

  • financial management
  • inventory management
  • payroll
  • receipt or invoicing
  • customer relationship management
  • employee relationship management

everything is accessible and productive, as it speeds up the entire process. The quality of work results and efficiency of employees is commendable.

Receipt Making Tips

Starting Your Digital Receipt Journey

If you are a business owner and want to switch from paper receipts to e-receipt, or want to use both, or a start-up business and want to go digital, then you are on the right page. Probably, you are thinking of how you can do your business better – getting more organized, staying more productive, save more time throughout the always busy workdays, and save more money to boost your company’s financial performance – to achieve your business goals. And everything is possible to happen by getting rid of paper receipts and start using an electronic or digital receipt, or you can combine both to see how it influences the transition. This can lead to a more orderly and clutter-free workplace and most significantly, it is extremely beneficial to your health, to protect you from harmful BPA, and to the environment, which helps diminish the amount of paper being dumped into landfills every year. 

The use of digital receipts started by Apple Stores in 2005 and many retailers embraced the innovation. It is a printer and mobile-friendly and with a click of a button, you can track your expenses, share your information with your accountant or tax professional, and so much more convenient between you and your customers. 

All that said, here are some of the latest e-receipt systems that are notably affordable if you want to start digitizing your receipts: 

  1. ExpressExpense. A receipt maker that creates professional-grade receipts based on the information you enter. You just simply choose a receipt template that suits your business needs, customize the receipt and then download, print, email, or text the receipt generated. You can also use the mobile app to make receipts on your phone. You can Sign-up or read the FAQs to know more about the services offers.
  1. MakeReceipt. A receipt generator that allows you to make a receipt for your business needs. Receipt templates are professionally designed to match today’s common receipts across the globe. You can customize, edit or download your receipt on your laptop or mobile phone. You can generate in a matter of seconds! You can Sign-up here and choose your desired PLANS.
  1. ExpenseFast. It is a powerful receipt editor that lets you create a receipt with high-resolution output. Its receipt library offers 100s of the most popular receipts in the world and they can even make one for you if you want. You can Sign-up here and enjoy the features with professional quality and excellent service.
  1. InvoiceWriter. It is an invoice generator that lets you create an invoice from your phone or laptop. You can generate in 3 easy steps. It offers a lot of invoice templates and you can choose the one you want or you can request your desired design. International invoices are supported in Dollars, Euros, and British Sterling. They make invoices for the UK, Australia, Canada, Germany, and France. You can Sign-up or visit the FAQs page for more information.

These receipts and invoice makers are highly recommended as they already served hundreds of thousands of customers and are still counting. They also provide deeper insight into customer buying habits which can help you predict your individual customer behavior. Who precisely is the customer and what are they purchasing? This can help you to create promotions or other marketing offers that relate to your customer’s preference. Amazing journey in the digital receipt system world is waiting for you!