What is the recommended action for documentation of transactions?

Maintaining organized records of all transactions is crucial for proper financial management and auditing purposes. This practice ensures that all documentation is easily accessible, facilitating verification of expenses and compliance with regulatory requirements. Organized records help to prevent potential issues during audits and streamline the expense reporting process for cardholders and approving officials.

In addition, having a systematic approach to record-keeping allows both the cardholders and approving officials to quickly retrieve necessary information when needed, such as during reconciliations or when addressing discrepancies. It also aids in financial tracking and budgeting by providing a clear overview of expenditures over time.

The other options lack the necessary structure and efficiency required for effective transaction documentation. Storing receipts in an unorganized manner can lead to lost documents and difficulty in accessing important information. Relying solely on digital receipts may not cover all scenarios, as some transactions still produce physical receipts that need attention. Archiving reports after a year, while it may seem practical, does not address the importance of maintaining organized records throughout the year for ongoing reference and accountability.