Importance of Digital Receipts
In today’s increasingly paperless world business of all sizes are moving from traditional paper receipts to digital receipts. There are key reasons of digital receipts for the modern businesses:
Improved Record keeping: Digital receipts are automatically stored in your system and reducing the need for physical filing system; Reduced risk of loss; Simplified tax preparation.
Costs Savings: Reduced printing costs, Eco-friendly
Better Data and Insights: Allow businesses to calculate data such as purchase history.
Fraud prevention and security: Minimize fraud – Digital receipts are harder to forge than paper ones reducing the risk of fraudulent claims; Digital receipts are protected from theft.
ARCHERS ACCOUNTANTS TIP: Use digital platforms to save your business receipts – saving time, don’t lose a receipt, ease through an HMRC compliance visit; lower risk of HMRC penalties.
