I recently began using the Expensify app because I like the capability to sync expenses and mileage with QBO. I also want to have an electronic copy of each expense.
I realized two things.
- When my Expensify report is exported to QBO, a JPG file of the individual receipt is automatically added to each expense transaction in QBO. As long I keep my QBO file, I’ll have access to attachments. But if I decide to change accounting software and export my QBO data, the attachments linked to my transactions will not be exported, per QBO’s export limitations.
- Expensify allows me to save each report exported to QBO as a PDF, including all scanned receipts and mileage reports. Expensify provides helpful instructions here. I tested the PDF feature. Each PDF provides a summary of expenses, a summary of receipts, and copies of actual receipts. I then saved the PDF to my personal cloud storage.
I like to think long term, and I want to make sure I have control of receipts. This means that I will need to save each Expensify report as a PDF and upload to cloud storage. Once I know electronic copies are safely stored and backed up, I will destroy hard copies of receipts.
Your situation may be different. But when determining how to save electronic receipts, think long term.