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electronic receipt

Receipt Making Tips, Receipt Making Tips

How Do E-receipts Work?

In the comparison between paper receipts and digital receipts, the more convenient method in receipt management is the winner. The electronic or digital receipt is the most popular tool that business owners use today. It is an excellent opportunity for you if you plan to start a new small business or you just started running it or already have an existing small and medium-sized enterprise (SMEs) and you want to switch to a pure e-receipts management system or want to use both methods – incorporate paper receipts and electronic receipts. 

When shopping in online stores through e-commerce websites such as Amazon, eBay, and Walmart it is faster to pay and easier to view the receipts. It’s a real-time sales transaction and getting updates with your purchase is anytime and anywhere as long as you have a good internet connection. But how e-receipts work in physical stores and how convenient is it for the customers? 

  • When the customer checks out, the cashier asks if they want a paper receipt, an electronic receipt, or both. Keep in mind that e-receipts are the most priority, and encouragement is the key. There are fewer worries as most customers are willing to support the paperless campaign as it is healthy for individual’s health and the environment.
  • It is always the best result if the customer opts for an electronic receipt. The cashier just needs to input the customer’s email address, and the system sends the receipt to the customer’s inbox. You save paper and ink, and you will realize that you also save hundreds to thousands of money from buying rolls of paper receipts, ink, and printer maintenance. Customers will have the alternative as well to print the e-receipts in times they needed them for legal or audit purposes.
  • Data from the purchase is stored in the electronic receipt system, including the customer’s email address. All of the data gathered may be utilized if you have ongoing and future marketing initiatives. Perfect for your e-marketing techniques. You just have to make sure that you give your customers the option if they would like to receive marketing emails. It is not you to decide but the customers, and asking for consent is your obligation. Given the permission to send emails about store promotions, rebates, and any other-related updates, make sure your email is significant and it is based on your customer’s preference to reach your marketing goals.

Customers want a faster check-out as their time is valuable and you want to give them the best and possible excellent customer service experience. It is very crucial for customer retention. You can create a receipt in seconds by using a reliable and trusted online receipt maker that allows you to make a receipt on your smartphone by downloading the app on Apple Store and/or Google Play Store. So fast and easy for you and the customers. 

Using electronic receipts is one of the best technological tool innovations in the world of business and being updated with this kind of advancement is a great move for you and your business.

Receipt Interesting Facts

The New Normal for Issuing Receipts

One of the most stressful and time-consuming tasks in running a business is organizing and storing paper receipts. More folders and cabinet drawers to check whenever there’s a tax audit, for accounting check purposes, and the likes. Fortunately, electronic receipts are now legally recognized in many countries and becoming the new normal of issuing receipts and storage of receipts and have proven adequate to be supporting documents, particularly on legal and tax claims.

One of the major obligations of businesses or companies as a taxpayer is to collect and store paper copies of:

  • customers’ duplicate receipts
  • receipts for employee expenses 
  • other related sales and expenses receipts

These are one of the important elements of corporate record-keeping, so as to comply with tax laws and prepare for future audits.

Getting rid of paper receipts is also saying goodbye to:

  • Filing folders and other office material – save office supplies cost 
  • Cabinet file drawers – more office space
  • Ink printer, rolls of paper receipts, printer maintenance – save individuals health and environment

Using a receipt generator like ExpressExpense is one of the most convenient and efficient ways of paperless receipt management and taking advantage of better opportunities is a road to growth and success for your business.

If you are a starter, starting your digital receipt journey can save you a lot of money and stress. With the existing business, you can switch to digital receipts and see the best results on:

  • how much you save costs, and
  • the big changes in your filing and storing system

The benefits of using ExpressExpense e-receipts are the following:

  1. It provides an orderly record of all of your payments as well as quick and simple access to original receipt documents for auditing and bookkeeping reasons.
  2. It helps guarantee your compliance with taxation laws and future-proofs your firm in case of future tax audits.
  3. The system can be accessed both on a computer and mobile. This receipt maker lets you create a receipt on your smartphone by downloading the app on Apple Store and Google Play Store. 
  4. For customer receipts, you can send them via email or SMS and it is ready for download anytime, anywhere.
  5. You can customize the receipt if you want – add a signature, logo, or seal to make it more secure and precise.

Today, many modern businesses use the paperless management system. It avoids the hassle of maintaining paper receipts as the printed details on thermal paper fade over time. Fewer worries on your end as a business owner for the reason that receipts are stored in a safe system and easily accessible. 

It is not a paperless option anymore but a priority as we are more focused now on saving our environment and taking care of our general health. This is confirmed to be beneficial not just in our nature or health practice but also in saving cost, time, and effort to any kind of business.

Use a receipt generator that can provide you all the convenience of using an online receipt. It is fast, easy to use, and can make a receipt in seconds! Try it for FREE and SIGN-UP today.

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.

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.

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!