Attaching receipts to expenses is crucial for ensuring accuracy, accountability, and compliance in financial management. Receipts serve as concrete proof of transactions, helping to verify that all expenses are legitimate and correctly recorded. This practice is essential for audit compliance, as it provides the necessary documentation to support expense claims and prevent discrepancies. Additionally, attaching receipts aids in effective budget management by offering detailed insights into spending patterns, which can be analyzed for more informed decision-making. It also plays a key role in preventing fraud, streamlining reimbursement processes, and meeting tax compliance requirements, ultimately contributing to more transparent and reliable financial operations.

Utilize Volopay's AI OCR system based Magic scan feature to effortlessly upload and auto-fill receipts against expenses, streamlining the completion of expense submission policy. Our system allows for quick edits and bulk submissions, ensuring a seamless efficient expense management process.

Volopay automatically matches the receipts you send to receipts+{company subdomain}@volopay.co to your expenses.

We offers automatic receipt matching for multiple languages/countries and international currencies, which means that we'll automatically match your receipts to the correct transactions in seconds. You no longer have to spend time finding receipts and attaching them to your expenses one at a time.

We automatically verify the receipts submitted, if it matches the corresponding expense. This helps your teams save time by not having to verify each receipt manually.

Volopay checks the receipt against the expenses and compares the following fields with each other:

If 2 out of 3 of these checks pass, We will label a receipt as "Auto-Verified" (green icon)

When a receipt is submitted but does not pass Volopay verification, it will be in a grey icon.

Receipts sent to that authorized email will also be considered to be matched on transactions across the company. If your receipt is considered a better match for another employee's transaction, we will match the receipt you forward with the other employee's transaction.

Manually attaching receipts to expenses is an important step in maintaining accurate financial records and ensuring accountability. By manually adding receipts, individuals and organizations can directly verify the legitimacy of each expense, reducing the risk of errors or discrepancies in financial reporting. Manual attachment requires some effort but it offers the advantage of a thorough review process, allowing users to ensure that each receipt is properly categorized and linked to the correct expense. This contributes to more organized financial management, streamlined reimbursement processes, and better compliance with tax and regulatory requirements.

1. Go to “My Volopay” and click on “Overview.”

5. After selecting the file, it will upload automatically and be attached to the transaction, ready for review by the admin or approving managers.

6. Optionally, you can add a “Memo” to provide additional details about the transaction or expense.

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