Key takeaways
- Ask for receipts above a threshold, not for every purchase.
- Use the statement line and a vendor duplicate before treating a receipt as missing.
- When the receipt is gone, document the estimate and say it is an estimate.
- The best fix is a monthly receipt habit, not a year-end reconstruction.
Set the threshold
A firm that asks for every receipt gets none. Set a threshold, such as $75, and ask for the receipts above it. Smaller purchases are supported by the bank or card statement.
The threshold should match the client's risk and the firm's engagement. A client with a high volume of small purchases may need a lower threshold for a specific category, such as meals or travel.
Write the threshold into the monthly checklist, so the client knows what to send and the firm does not renegotiate it every month.
Ask early
Ask for the receipt in the monthly close, not at year end. The client remembers a purchase from last week; they do not remember one from February.
When a statement line has no receipt, ask for it in the same request as the other missing items. A separate email for every receipt is a request the client will ignore.
Give the client the date, vendor and amount from the statement. A specific request is easier to answer than "we need receipts."
Rebuild from the statement
Start with the statement line. It shows the date, vendor and amount, and sometimes a description. That is enough to identify the purchase and to ask the client a specific question.
Ask the vendor for a duplicate receipt or invoice. Many vendors can reissue one from the order history, especially for online purchases.
Check the client's email for the order confirmation. A confirmation is not always a receipt, but it can support the amount and the business purpose.
Document the estimate
If the receipt cannot be found, record the purchase with a note that says it is an estimate based on the statement. Do not present an estimate as a receipt.
The note should say what was bought, why it was a business purchase and what support exists. A short explanation is better than a blank receipt field.
Tell the client which items are estimates, so they can decide whether to ask the vendor for a duplicate before the return is filed.
Prevent the next pile
The best receipt process is a monthly one. Ask for the receipts with the monthly statements, while the client still remembers the purchases.
Give the client a simple way to send a receipt: a photo, a forwarded email or a secure upload link. The easier the method, the more likely the client uses it.
For a client who consistently loses receipts, suggest a receipt app or a business card that captures the purchase at the point of sale. The firm does not need to manage the app; the client just needs a habit.
What not to do
Do not invent a receipt or copy a similar one. A fabricated support document is worse than an honest estimate.
Do not deduct a purchase without any support and without telling the client. The client should know which items are estimates and what the risk is.
Do not let the missing receipt stop the entire close. Record what can be recorded, mark the estimate and move on.