Keeping receipts organised is a key requirement for IRAS record keeping, but for many Singapore SMEs, it’s also one of the most tedious finance tasks. Paper receipts fade, digital files get lost, and manual tracking creates gaps that surface only during audits or filing.
Automating receipt tracking helps SMEs stay compliant without adding admin work.
Common issues include:
IRAS requires businesses to keep proper records (including receipts) for at least five years, so weak tracking creates real compliance risk.
AI-powered accounting tools streamline receipt management from the start:
Digital receipt capture
Receipts are uploaded via mobile or desktop as soon as expenses occur — no paper filing needed.
Automatic data extraction
AI reads amounts, dates, suppliers, and tax details directly from receipts, eliminating manual entry.
Centralised storage
All receipts are stored securely in one system, linked to the correct transactions.
Searchable audit trails
Every receipt can be traced from document to transaction to report, making IRAS reviews easier.
Platforms such as ccMonet help Singapore SMEs automate receipt tracking effortlessly:
This reduces errors and removes the need for manual filing systems.
Automating receipt tracking isn’t just about convenience — it’s about building reliable, compliant records as part of daily operations. With AI handling capture and organisation, SMEs can meet IRAS requirements with far less effort.
👉 Learn how ccMonet helps Singapore SMEs automate receipt tracking for IRAS record keeping.
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