Itemized Receipt
An itemized receipt is a copy of a proof of purchase that contains detailed and line-item information about that transaction. Itemized receipts mirror typical receipts but will also have each individual service or good listed out and may include various sales taxes attached to some items or the total amount.
What is an Itemized Receipt?
Itemized receipts are crucial for accounting teams as oftentimes, singular transactions host items that are reported independently for accounting and tax purposes. End-of-the-month books become easier to close as these receipts give a more granular view of employee purchases. For some employers, this variation of payment proof may act as the only confirmation of what employees are spending on business expenses.
