Purpose:

All business receipts must be entered into QuickBooks to maintain accurate bookkeeping, expense tracking, tax records, and financial reporting.

Receipts should be uploaded as soon as possible after a purchase is made. Proper receipt management helps ensure:

• Accurate expense tracking
• Correct HST reporting
• Proper vendor records
• Audit readiness
• Reliable financial reporting

---

Receipt Requirements

Every receipt submitted must clearly show:

✅ Vendor name
✅ Date of purchase
✅ Items purchased
✅ Total amount paid
✅ HST amount (if applicable)
✅ Payment method (if known)

Receipts that are missing information should be reviewed before entering.

---

Step 1 — Access QuickBooks Online

1. Login to QuickBooks Online.
2. Select the correct ValueBrands company file.
3. Navigate to:

Transactions → Receipts
or
Banking → Receipts
(Menu names may vary depending on QuickBooks setup.)

---

Step 2 — Upload Receipt

Receipts can be added by:

• Uploading a digital receipt
• Taking a photo using the QuickBooks mobile app
• Dragging and dropping a receipt file

Accepted formats:

• PDF
• JPG
• PNG

Ensure the receipt image is clear and readable.

---

Step 3 — Review Receipt Information

QuickBooks may automatically read receipt information.

Verify:

Vendor

Confirm the correct supplier is selected.

Examples:

• Home Depot
• Canadian Tire
• UAP/NAPA
• Fuel Supplier
• Equipment Supplier

---

Date

Confirm the purchase date matches the receipt.

---

Amount

Verify:

• Subtotal
• HST
• Total amount

The entered amount must match the receipt.

---

Step 4 — Categorize Expense

Select the correct expense account.

Examples:

If unsure, do not guess. Contact management for clarification.

---

Step 5 — Assign Tax Code

For Canadian operations:

Review the HST setting.

Common options:

• HST Recoverable
• HST Included
• No Tax

Ensure the tax treatment matches the receipt.

---

Step 6 — Add Notes

Add useful information when required.

Examples:

Purchased mower blades for Valuelawn equipment.

Fuel purchase for service truck.

Replacement carburetor for customer repair.

Notes should explain the business purpose.

---

Step 7 — Save Receipt

Before saving:

☐ Receipt attached
☐ Vendor correct
☐ Date correct
☐ Amount matches
☐ Expense category correct
☐ Tax code reviewed
☐ Notes added if required

Select:

Save

---

Receipt Filing Standards

Receipts should not be stored only on paper.

All receipts must be:

1. Uploaded into QuickBooks
2. Properly categorized
3. Attached to the transaction

Paper receipts should be retained according to company policy.

---

Common Receipt Errors

Duplicate Receipt Entry

Problem: Receipt entered more than once.

Solution:
Check existing transactions before adding a new receipt.

---

Missing Receipt

Problem: Expense appears without documentation.

Solution:
Request a replacement receipt or record explanation.

---

Incorrect Category

Problem: Expense assigned to the wrong account.

Solution:
Update the category before final approval.

---

Personal Purchases

Personal expenses must not be entered as business expenses.

If accidentally entered:

• Notify management
• Correct the transaction

---

Monthly Receipt Review

Office administration should verify:

☐ All receipts uploaded
☐ No missing documentation
☐ Expenses categorized correctly
☐ HST amounts accurate
☐ Duplicate transactions removed