On 1 July this year, the Accounting Act was updated, making conditions for Swedish companies similar to conditions for companies in Denmark, Finland and Norway, where digital receipts have long been accepted for accounting use.

“This is good news and means that companies can make major time and cost savings, as they no longer have to save and archive masses of paper documents,” says Andreas Bremo, Head of Sales and Customer Relations at Eurocard.
It also means that businesses will be better able to make their expense management more secure and cost-effective.

“There’s now no need to worry about paper receipts being destroyed, lost or in poor condition. There are also many digital solutions and tools on the market that help companies save time and money by digitising all or part of their expense management.”

Andreas Bremo has two tips for people who want to start taking advantage of the new law and taking a more efficient and digital approach to their receipt management:

Map out your current expense management process

“Start from the moment an employee incurs an expense, and then go through each step until the expense is booked. Are there any bottlenecks in this process? Which steps tend to take an unnecessarily long time, or cause irritation or uncertainty among employees? Also ask yourself whether there are any parts of this process that would benefit from being digitised.”

Find out which digital tools can help you

“Simply by using an app with technology for receiving receipts, instead of dealing with them manually, you can save several minutes per processed expense. And if you choose to digitise the entire expense management process, from purchase to accounting, you can save a lot of time, both as an individual employee and as a company. Talk to your card provider about what options are available to your company.”

Read the report: You don’t have to be smart – a report on digital receipts