credit card and bank statements

[Dubostica]

Are the bank and credit card statements acceptable as valid proof of expenses on schedule C instead of actual receipts. Each expense has a date , payee name $ amount, and in some cases store number and phone number

[JulieS · Accepted solution]

Yes, bank records and credit card statements can be used to validate your expenses.

The IRS is fairly flexible about how you keep your records.

Click here to learn more about record keeping for your business.