Receipt management is one of the most cumbersome, time-intensive, and generally dreadful aspects of preparing an expense report. To combat this, Expensify offers Guaranteed eReceipts for expenses imported directly from a bank or credit card. These are full digital replacements of their paper equivalents for purchases under $75. There is only one exception where we can’t provide an eReceipt: purchases for lodging, for example at hotels and motels.
Note: Many banks do not provide complete or accurate category information, so we might at times mis-identify merchants and erroneously generate an invalid eReceipt for hotel purchases. Similarly, you are free to re-categorize expenses, possibly causing us to generate an invalid eReceipt for a purchase made at a hotel. In either case, our Expensify eReceipt Guarantee does not cover purchases of lodging at hotels and motels.
eReceipts Accepted by the IRS
Expensify Guaranteed eReceipts are legal and accepted by the IRS. They are designed to meet and exceed the IRS regulations for adequate recordkeeping spelled out in publication 463. Namely, original (paper) receipts are not required for purchases under $75 so long as records are kept that are:
- Timely - Recorded at or near the time of the expense.
- Accurate - Recorded amount is exact.
- Written - Recorded in a permanent form.
eReceipts meet all these requirements, as well as provide additional value through being:
- Authenticated - Tied to the cardholder’s email address.
- Contextual - In association with a corporate card and related business purchases.
- Verifiable - Protected from tampering through online confirmation.
We are so confident the IRS will accept Expensify eReceipts that we guarantee it. However, Expensify cannot give tax advice, so please consult with your tax advisor to confirm.
The Expensify eReceipt Guarantee
Expensify eReceipts were created in close consultation with the Internal Revenue Service to ensure they will be accepted by all IRS auditors. We are so confident in our eReceipts that we make the following guarantee:
If you or your employer is audited by the IRS, and if the IRS auditor rejects any verified Expensify eReceipt as inadequate proof of purchase, we will pay the difference in taxes that results.
This is the strongest statement we know how to make regarding the authenticity, legitimacy, and reliability of Expensify Guaranteed eReceipts.
Receipts for purchases over $75
The IRS will accept a digital copy of a paper receipt. You are not required to keep the original paper receipt; instead you can just upload the picture or scanned copy to Expensify and forget about it.