Swedish Parliament Approves Digital Receipts: How Your Business Can Benefit
May 23, 2024
The Swedish Parliament (Riksdagen) passed an amendment to the accounting law allowing businesses to store financial records digitally instead of on paper. This change, effective July 1st, brings numerous benefits to businesses, including significant cost savings, reduced administrative burden, and a more sustainable, environmentally friendly approach.
What This Means for Your Business:
Photograph and Store All Receipts: Whether your receipts are digital or paper, you must now document them with a photo or save the digital receipt. Paper receipts can be discarded after being photographed.
Digital Storage: Store your digital receipts in your accounting system or on your computer or hard drive. Ensure you can produce these receipts if requested by the Swedish Tax Agency, so secure storage is essential.
Backup: Whether your receipts are photographed or digital, ensure they are stored securely and can be retrieved when needed.
How ReceiptHero Can Help
ReceiptHero's digital receipt solution streamlines this process by delivering real-time receipts directly from merchants to your expense platform or corporate issuer. Here's how:
Real-time Delivery: Receipts are delivered instantly to your digital platform, eliminating the need to manually photograph or store paper receipts.
Seamless Integration: Our solution integrates with major expense management systems, ensuring your receipts are automatically recorded and stored securely.
Cost and Time Savings: By transitioning to digital receipts, businesses can save up to 3.9 billion SEK annually and reduce administrative efforts significantly.
Environmental Impact: Digital receipts contribute to a reduction in paper waste, supporting a more sustainable business practice.
ReceiptHero has been working closely with the Finnish State Treasury on implementing digital receipts in Finland. In the following video you will see the benefits (in Swedish) on real-time receipt delivery to expense management platforms).
Key Partnerships
ReceiptHero has established partnerships with leading financial service providers to ensure seamless delivery of digital receipts:
Zevoy: Real-time receipt delivery integrated with Zevoy's expense management platform.
Nordea First Card: Automatic receipt delivery to the Nordea First Card application.
Eurocard: Instant receipt delivery to Eurocard's digital expense platform, enhancing efficiency and reducing administrative overhead.
For Merchants
Merchants looking to improve receipt handling for their corporate customers should reach out to ReceiptHero to discuss how they can get started with sending digital receipts. By partnering with ReceiptHero, merchants can offer a modern, efficient, and eco-friendly solution to their customers.
Embrace the future of receipt handling with ReceiptHero and comply effortlessly with the new Swedish regulations. Make the switch today and enjoy the benefits of a modern, efficient, and eco-friendly approach to managing your business expenses.