On 1 July this year, an updated accounting law came into force in Sweden stipulating that you don’t need to keep physical receipts for accounting purposes if they have been converted into a digital format. This removes the need to spend time and money managing and filing paper receipts, while you can also minimise the risk of receipts being destroyed or getting lost.

Do you want to start digitalising receipt management at your company? Here are 3 suggestions to get you started. 

Digitalise your paper receipts 

A good first step is to start using an expense management app with a built-in receipt capture function. Using such an app, employees can easily scan paper receipts immediately after making purchases. In this way, receipts are converted into a digital format, ready to be forwarded to the finance department. 

Match your digital receipts with the right transactions 

If you want to take a step further, there are also apps that have an "auto match" function. This means that the app automatically reads digital receipts and pairs them with the right transactions. This makes it much easier for the finance department to monitor purchases.

Explore the possibility of receiving digital receipts directly from points of sale

The receiving of digital receipts directly from merchants involves a receipt being sent directly to the customer’s mobile phone as soon as they make a purchase. The mobile phone matches the receipt with the right transaction and then transmits the information to the company's expense management system. This makes it virtually impossible for receipts to get lost or be destroyed before they are authorised.  This is part of Eurocard’s Smart Receipts solution.

Please contact us if you would like to know more.