Expense tracking can be time-consuming, tedious and prone to errors. Fortunately, with the help of expense tracking tools, managing and recording expenses has become much easier.
These tools allow users to upload images of receipts and enter details manually, making it easier than ever to accurately store all their expenses in one place. This makes it easier for users to keep track of their finances and make data-driven decisions about their spending habits.
The Receipts Tracker at Revenue.ie is a great tool for keeping track of your expenses and receipts. It allows you to securely store images, expense details and receipts in one place. This way, you can easily access all the information you need when filing your taxes or submitting expense claims.
The Receipts Tracker also helps you save time by automating the process of tracking and saving expenses. You can easily upload images of receipts or enter details manually, allowing you to quickly and accurately store all your expenses in one place.
With the Receipts Tracker, it’s easy to keep track of your expenses without having to manually keep track of everything yourself!
Benefits of using Receipts Tracker
When you save receipts details and/or images to Revenue storage, you:
a) can see your receipt details on your online annual income tax return, making it quicker and easier to complete.
b) don’t have to retain original receipts for Revenue purposes for a period of 6 years. However, you must ensure that uploaded images related to the expense details to be recorded are clear, readable and complete.
c) can claim tax credits in real-time in the current year for:
- Health Expenses
- Nursing Home Expenses
- Dental Expenses (non-routine)
- Remote Working Expenses
d) will reduce potential contact from a Revenue caseworker in the event of verification checks being undertaken on your claims or Income Tax Returns.
For more details, read the official Revenue guide here (Source:Revenue)