Submitting Receipts for Church Expenses

Keeping receipts for church expenses is an important part of maintaining accurate financial records and ensuring transparency. While the IRS requires receipts for business expenses over $75, most churches have stricter policies that require receipts for all transactions—no matter the amount.

Submitting receipts helps make financial tracking easier and ensures that everyone has the information they need should any questions come up later.

IRS Receipt Requirements

The IRS requires documentation for all business expenses, and receipts must be kept for at least three years after filing a tax return. In some cases—such as unfiled returns or underreported income—the IRS may require records to be kept for up to seven years.

📌 For more details on IRS guidelines, visit: IRS Documentation Rules

Even though the IRS does not explicitly require receipts for business expenses under $75, it’s still important to keep records that show the amount, date, place, and purpose of the expense.

Church Policy on Receipt Submission

Many churches require receipts for all expenses, regardless of amount, to keep things simple and ensure financial records are complete. Submitting receipts makes it easier to:

✔ Keep bookkeeping accurate

✔ Be prepared for audits or financial reviews

✔ Show a clear record of how funds are being used

All receipts submitted to myXP are attached to the corresponding transaction in QuickBooks, helping to create a clean and organized financial history.

Your Role in Submitting Receipts

If you’re making purchases for the church, it’s up to you to provide proper documentation. That includes:

• Taking a photo or scanning the receipt soon after the purchase
• Providing a short description of what the expense was for
• Submitting receipts promptly to keep records up to date

What If a Receipt Is Missing?

It’s understandable that sometimes a receipt gets lost. If that happens, you may need to provide alternate documentation, such as a bank statement showing the purchase (please check with your church leadership). While this is fine for the occasional missing receipt, the expectation is that receipts are submitted whenever possible.

Keeping Receipts on File vs. Submitting to myXP

myXP’s systems are designed to accept and store receipts, invoices, and supporting documents for every transaction. However, some churches may choose to keep receipts on file internally instead of submitting them to our team.

🚨 If receipts are not submitted to myXP, we won’t be able to assist in researching or verifying purchases if questions arise—now or in the future.

Also, keep in mind that not submitting receipts to myXP doesn’t change the IRS requirement to retain them for at least three years.