When matching out goings from bank do I need a receipt?

Question

When matching transactions through Connected Accounts, to my expenses, I am wondering if you need to upload a photo of receipt as well? Or do you only need a receipt if not using your connected account. I don’t want to double claim the money going out.

Han-Solo · Answer

Hey @arttoart,

Great question! Solo lets you match receipts to bank transactions for easy record keeping, but when it comes to what you need to keep for tax time, it’s best to check in with your accountant or tax advisor. They’ll be able to confirm exactly what the ATO would expect based on your situation.

arttoart · Answer

So Hans do I still have to keep the receipt for tax purposes is the matched bank transaction enough

Han-Solo · Answer

Hey @arttoart

Great question!

If you’ve already uploaded a receipt and created an expense in the app, Solo will try to match that to the bank transaction when it comes through – so you don’t need to upload anything again. This helps avoid double-ups.

If there’s no existing expense yet, you can create one straight from the feed by categorising the transaction instead. No receipt is needed for this.

You can check out more on how this works here:
👉 Review transactions in Solo

Let us know if you need a hand with anything 🙂