The importance of receipts in accounting
In a business's accounts, receipts are essential documents for tracking business transactions and for tax purposes. The entrepreneur can obtain a VAT deduction against receipts and vouchers related to business activities.
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For VAT deduction, the receipt must clearly include the following information:
1. Basic information, such as the name, address and business ID of the seller
2. Date and numbering
3. Goods or service purchased
4. Price and VAT
Did you know that the Truster application provides an excellent tool for documenting receipts?
Check out Truster's new receipt scanner feature that makes managing receipts and vouchers easier than ever! Just scan your receipt with our app, and ta-dah! You have an instant digital copy at your fingertips.