Essentially, it is a kind of risk management that is mainly used to protect against the possibility of a future or unknown loss.

Insurance: An insurance policy is a method of protecting yourself against financial loss.

As the name implies, Leave Travel Allowance refers to an employee's allowance while travelling with their family or by themselves. It is a tax break provided by a company to its workers.

LTA: Leave Travel Allowance is one of the most effective tax-saving measures available that can benefit Employees.

HRA: House Rent Allowance is a compensation component given by employers to workers to cover the cost of renting a property for residential reasons.It can include tasks beyond their regular working hours and beyond the agreed-upon time frame. Overtime: When an employee works extra hours, this is known as overtime.Bonus: A bonus is the sum of money added to a person's wages to reward outstanding performance.It excludes dividends, benefits, overtime pay, or any other potential reward from an employer. The total amount comprises the take-home pay. It includes the amount an employee receives before any extras are added or payments deducted. Basic Salary: Basic salary is the amount of money agreed upon by an employer and employee.It contains employee details and payslip details Salary Content Earnings examples: The receipt will need to be laid down on the scanner and can be saved to a device or USB stick.The header section can have the details contains title, company name and company address Employee / Payslip Info

Using a physical scanner is a traditional way to store receipts. The top three apps for taking photos of your receipts are: Using a mobile app is the easiest way to capture a receipt and save it for your records. There are two ways to scan a receipt: Mobile App InvoiceĪ receipt is only provided after payment has been made, while an invoice is a formal request for payment.Ī receipt is made after a transaction has occurred, detailing the price of the goods or services along with any taxes, discounts, shipping fees, or other line items.ĭownload a template: Adobe PDF, Microsoft Word, Open Document Text (.odt) How to Scan a Receipt Source: IRS – How long should I keep records? Receipt vs. If a business claimed a loss for any tax year, the receipts for that year must be kept for seven years.

*Serial number of the business’s permit to engage in business (*California only).Īccording to the IRS, a business should keep its receipts for three years.

Description of the service, goods, or rental.

A standard receipt includes the following details: A receipt is a written record of a transaction between two or more parties.

Blank receipt template microsoft word