Guide · Updated October 2026
Organizing employee receipts and documentation
For each expense, keep the receipt, the business purpose, the category, who approved it and how it was paid back. Here is how to collect that without chasing, and what to do when a receipt is missing.
What to keep for each expense
| Item | Why |
|---|---|
| The receipt | Proof of the amount, date and merchant. A photo is fine; keep it legible. |
| The business purpose | One line: what it was for. For meals, who attended. |
| The category and project | So the books and the invoice are right. |
| Who approved it, and when | The control an auditor asks about first. |
| When and how it was paid back | Ties the expense to the payroll run or payment. |
Collecting receipts without a shoebox
- Capture at the counterA photo taken when the receipt is handed over is the only reliable method. Everything else is reconstruction.
- Attach to the expense, not to an emailA receipt in an inbox is lost by month end. It belongs on the expense record.
- Set a thresholdRequire receipts above a small amount, such as $25, and accept a note below it. Perfection costs more than it saves.
- Submit on a rhythmWeekly for travelers, monthly for everyone else, with a deadline in the policy.
When a receipt is lost
Write it down: what, where, when, how much and why. Have the manager decide whether to reimburse. Make the note part of the record, so the exception is visible later rather than invisible. If lost receipts are frequent for one person, that is a conversation, not a policy change.
How long to keep records
Expense records support your tax returns and your financial statements, so keep them as long as those can be examined. The period depends on your country, and many businesses keep them for six or seven years; your accountant will tell you what applies to you. Keeping each receipt on its expense record in software means the receipt, the approval and the payment stay together and can be exported when someone asks.
This page is general information about running expenses in a business. It is not tax, legal or accounting advice. Check your own obligations with a qualified adviser.
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