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receipt generator

Receipt Making Tips

Useful Receipts for Tax Deductions

A tax audit is an examination of your accounts and financial data by an IRS agent or state auditor to make sure you accurately reported your income, expenses, and credits as per tax laws. You must keep all your tax-related documents for at least three to seven years from the date you filed your return. Keep your receipts in one place for easy access and quicker arranging of all your needed records for future audit reference. Collecting receipts is a crucial part of the preparation method for filing taxes and it is a big advantage if you are always prepared and already set your expectations when the tax audit happened.

Small-Business Owner/Self-employed Receipts

Self-employed individuals should consider using accounting software like Quickbooks, or online receipt makers like ExpressExpense, or invoice receipt makers like InvoiceWriter.  

The audit can flow smoothly when the IRS agent or auditor discovers that all the needed documents or records are being presented in an organized manner. 

Here are the records to keep:

  • Sales slips
  • Paid bills
  • Invoices
  • Receipts
  • Deposit slips
  • Canceled checks

You have to arrange them by year and type of income or expense for faster identification. These documents support the entries in your books and on your tax return.

Keep your gross receipts as it shows the income you receive from your business. Gross receipts documents are:

  • Cash register tapes
  • Deposit information (cash and credit sales)
  • Receipt books
  • Invoices
  • Form 1099-MISC

For business purchases, these are the things you buy and resell to consumers. And here are the documents to keep:

  • Canceled checks or other records reflecting proof of payment/electronic funds transferred
  • Cash register tape receipts
  • Credit card receipts and statements
  • Invoices

NOTE: Supporting documents are needed to present to sustain the purchase transactions.

Business Expense Receipts

Business expenses are the costs you acquire (other than purchases) to carry on your business.

These are the documents for expenses:

  • Canceled checks
  • Cash register tape receipts
  • Account statements
  • Credit card receipts and statements
  • Petty cash slips
  • Invoices

NOTE: Supporting documents are needed to present to sustain the purchase transactions.

Other records that you need to save are:

Receipts can aid you in two ways: 

  1. maximize your refund, 
  2. or at least minimize your tax difficulty. 

You can also ask for guidance from a tax professional for a more thorough understanding of collecting and keeping tax records and receipts if you think you need to be more educated about tax matters. Make sure that you are doing a productive task of storing and maintaining records to avoid future problems.

To know more about ExpressExpense receipt generator you can visit our FAQ’s page or SIGN-UP today and start saving all the useful receipts you needed for future tax claims purposes.

Receipt Making Tips

Comparison Between Paper Receipts and Digital Receipts

Whether you use paper or digital receipts it is useful to any kind of business since it is a required document to fulfill and given to customers as their proof of payment. Receipts are vital to keeping track of your expenses or cash flow in general. It has been a comparison since then whether to use paper receipts or e-receipts. However, both are beneficial when it comes to accounting reports or tax claims. Paper receipts are the usual and old way we used for long years but due to the advancement of our technology, change matters especially if it is for the betterment of a business. Do you think digitizing will cost too much? Is it complicated to start? 

Here are some factors when using paper receipts: 

  • Paper receipts provide instant proof of payment for a transaction of goods or services and provide customers with the security of a possible return/exchange of items.
  • Paper receipts give businesses the advantage to add seasonal SALE or discounts, such as coupons or promotions in the form of barcodes which can easily be scanned by the POS in real-time.
  • For customers paying with cash or credit cards, paper receipts protect both the business checking they are providing the correct change or card information and the customer with proof that the correct money has been returned or the amount entered correctly.
  • However, there are always issues in the quality of paper receipts used and the possibility for receipts to fade over time.This is one of the disadvantages when you use paper receipts. In due time information on the receipts are not readable and can be frustrating.
  • Paper receipts also take up too much space, which sometimes lets you buy a new file cabinet to store all the file receipts. 
  • Paper receipts are not environmentally friendly and they’re easy to lose and can give you stress in the future especially during tax claims.  
  • Many small to medium businesses (SMBs) are still using paper receipts to input information manually, which leads to administrative errors and wasting time to correct any mistakes and looks unprofessional due to erasures or alteration.

On the other hand, using online or digital receipts has been more convenient and effortless. Digital receipts or e-receipts have existed for long years now and for over a decade, work results are better. People are getting more used to pay-on-the-go by just using phones and access to the internet. Companies or businesses just need to download the app or access the websites anytime, anywhere, 24/7. ExpressExpense mobile receipt maker lets you create a receipt on your phone by downloading the app on Apple Store and Google Play Store. 

Here are the factors when using digital or e-receipts:

  • Digital receipts save paper, easy to store, easy to find which makes the job easier and lighter.
  • Digital receipts are printer and mobile-friendly. You can download the receipts or email them directly to your customers.
  • Digital receipts saves customer waiting time for check-out. Your goal is to make your customers happy and satisfied.
  • Digital receipts strengthen and enhance both the customer-service experience and customer relationships because of faster work results.
  • Digital receipts are perfect opportunities to upsell and cross-sell however purchase information should always be at the top of the receipt and any advertising or marketing purpose should always be at the bottom. 
  • Companies such as telephone, internet, cable, credit card, or insurance bill can send a digital payment request to inform the customers of their upcoming dues which can minimize or prevent late payments.
  • It encourages more time to engage with customers. Because of more email opportunities, you can easily respond to any inquiries or concerns they have. You can also inform customers if there are upcoming deals or discount codes that they can use. Loyal subscribers or customers always appreciate these kinds of strategies. 
  • Paperless is environmentally friendly. You save money and you help save Mother earth.

ExpressExpense is a receipt generator that can give you all the convenience of using an online receipt. It is fast, easy to use, and makes receipts in seconds! Reduce cost and save money. Stop wasting more time and boost more sales. Be genius and SIGN-UP today. You can also try it for FREE!

Receipt Interesting Facts

Interesting Facts About Receipts

Did you know that receipts contain interesting, reliable, and useful information that a customer or company can use for reference? Receipts are significant because: 

  • It guides you on your budgeting plans. Spending every cent matters especially if you have a particular amount to spend every salary. It limits you to not overspend. For business, it helps you monitor your daily expenses and operational supply needs.
  • Prevent potential frauds. For business, you can monitor how your staff spends your company budget on expenses. Same with individuals or families that rely on their maids or personal assistant when running errands. You get to know their honesty and integrity as an employee.
  • Optimize your operational efficiencies. You can properly maintain your business records accurately particularly in preparing your tax returns.

Here are some additional interesting facts about receipts according to MakeReceipt :

  1. Receipts are one factor that can build credibility for the company or business. In some countries, receipts are mandatory documents.
  2. Receipts are supporting documents to record business expenses like travel, vehicle, marketing, maintenance, office supplies, and many more.
  3. Receipts, particularly OLD receipts can consider memorabilia by a person. A first-ever purchased item/s on your first salary, engagement, wedding, or any special event in your life.
  4. A person who is traveling from different countries and is fond of collecting receipts like purchased branded bags, clothes, shoes, or jewelry.
  5. Receipts are the major requirement when you want to refund/exchange items of your recent purchase like, your new appliance is defective, your favorite new branded shoes were not paired, or the food products that you bought are expired.
  6. Receipt requires businesses or sellers to pay taxes based on their sales. The seller is obliged to put everything on record in case an audit is required.
  7. Receipts in a few cases can be used as supportive evidence to an investigation, regardless it is a civil case or criminal.
  8. A receipt can be used to avail of a free item promo or a raffle ticket for a chance to win a grand or consolation prize in participating stores.
  9. Receipts for your loan payments like monthly home amortization, or car loan. You want to make sure that all payments are deducted to its Loan Principal Amount.
  10. Receipts bank payment from your credit cards and phone monthly plans. Getting updated from your accounts, you get to feed information like the perks that you can avail from participating merchants or stores.

Receipts are important documents and compulsory to any business as well as to customers. For buyers, it is their proof of purchase to any goods or services.

Businesses or companies have two ways of issuing a receipt:

  1. First, is the paper receipt, which is the normal way. It can be handwritten or supplied at point of sale and printed on a thermal paper using a thermal printer.
  2. Second, is the online or digital receipts. This is not just an option anymore. This is becoming more popular especially today that we are more focused on environmental issues and how we can help to save our Mother Earth. Paperless campaigns are being practiced which prove to be more beneficial not just on nature but also on saving cost, time and effort to any kind of businesses.

When it comes to receipt maker Express Expense can help you with receipt management and prevent undue stress.

Spend smarter and try it NOW!

How To Make Receipts

How to Make a Services Receipt

How do you handle your Company Expenses Report if you have missing receipts? 

For online business owners, which one do you think is effortless, an online receipt, or the usual paper receipt?

In monitoring the business activities of a firm, whether you are considered a Small-to-medium sized business (SMB), a Small-to-medium (SME) or, a Large Enterprise, receipts are significant. You get to have accurate Financial reports to record all the expenses needed to produce an income statement report that will help you to monitor the financial performance of the company. Business owners, requiring their employees to always present receipts for reference.

For some business owners, they are using online receipts because it saves them a lot of time and effort and things become effortless and lighter in running their business. They can simply email the professional receipt templates to their customers directly. 

While for personal use, if you are a very organized person, it helps you monitor your daily or monthly budget for labor or any services expenses. There are still people that are fond of filing receipts.

Repairs and maintenance expenses are one of the Business Expense Categories to consider to track its business spending. Receipts are the primary supporting documents to attach aside from the company petty cash voucher. Business owners and accountants need these for audit or accuracy information purposes. If you missed a receipt, Express Expense can provide a high-quality one for you. The online receipt maker is called Services Receipt (Labor, Services, Entertainment).

To have an idea, here’s a sample receipt:

To make a receipt, you need the following business information:

Date, Time, Business, Address, City, State, Telephone, Amount, Tax or VAT percentage, if any. 

There are five kinds of Font Style to choose from:

  • Font Style 1
  • Font Style 2
  • Font Style 3
  • Font Style 4
  • Font Style 5

Enter all the receipt information and click “Make Receipt” to generate. You can download, email, or print it. If you would like to print real receipts, you can use our FREE mobile app Express Thermal Print and a Bluetooth thermal printer. This Mobile App is available for IOS and Android. We recommend purchasing a larger one. An (80mm) receipt printer will allow you to print 2 inches (58mm) and 3 inches (80mm) receipts. You can simply use a scissor to cut the receipt after printing.

Express Expense is the number one leading online receipt maker in the world and it is business reliable that many business professionals use it. It offers a wide variety of receipt templates such as Coffee, Restaurant, Gas or Fuel, Pharmacy, Grocery Store, and many more! You can customize your receipts to match nearly any receipt type. To check all our services, you can visit our homepage.

If you are ready, let’s create a receipt. Click here and, this is how the form looks like:

It’s just easy to follow and you can generate a receipt in just a few minutes. Try it today and avoid the stress of having a missing receipt.