Why Keep Business Receipts?
Businesses need to hang on to business receipts for tax purposes—either quarterly or at the end of the year. Most receipts are stored electronically and paper ones are only given if the customer doesn’t want an e-receipt. A receipt is proof that a payment was made.
How long do I need to keep Business Receipts for?
- The IRS says businesses should keep receipts for 3 years.
- If a business shows a loss for the year, they keep them for 7 years.
What is the difference between a business receipt and an invoice?
Are Business Receipts used for Tax Purposes?
Sample Business Receipt Template
PDF / Word Processing Format / Excel / Open Document