receipt processing

Receipt processing refers to the systematic handling of receipts, which are documents that confirm a purchase or transaction. This process typically involves capturing the receipt data—like date, amount, and vendor—through methods such as scanning or manual entry. The information is then organized and stored for record-keeping, expense tracking, or auditing purposes. Businesses often use software to automate this process, which enhances accuracy, saves time, and simplifies financial management. In essence, receipt processing is crucial for maintaining clear financial records and ensuring accountability in both personal and business finances.