Implications for business accounting
For companies and sole traders, a major reason for receipts is the need to record business expenses. In the past, paper receipts were a necessity to claim back money for such expenses, or just as legal backup if necessary to prove the transactions took place.
Now that online accounting is the norm, companies use cloud systems requiring employers or business owners to submit receipts electronically to the accounting system. If they only have a paper receipt, they need to digitise it by scanning or taking a picture of it and submitting it to the system. There are even tools for this, like the apps Xero Expenses and Receipt Bank that both allow you to snap a picture of individual receipts.
In such cases, having a digital receipt is easier. Many accounting systems have a dedicated email address for receipt submission, so you only need to forward an email receipts to record it. Based on machine learning recognition, the system will subsequently attempt to categorise the expense.
It is therefore no longer required for many businesses to obtain paper receipts. Some companies still use traditional, paper-based accounting systems, but if they get an email receipt, they can print it from an office printer for their records.