Hello,
Not sure if the state matters, but this is for a small Start-up business in a Portland, OR location. We have a a decent amount of meals & entertainment, along with travel meals. I have receipts for some, but not all. Additionally, I lack details of attendants for prior receipts. New procedures are in place to stop this from happening again, but I do have 6 months of charges (100 transactions under this category) that lack these details.
Questions:
I read we do not necessarily need meals & entertainment details as long as receipts are under $75 each...Is this true? Or is there an amount limit I should keep in mind for audit purposes? Either per receipt, or for the entire year as a whole?

What happens if I do lack receipts or details for meals, entertainment, and travel meals? Should I NOT categorize them, or "write them off" because I lack receipts?

Just want to make sure I have this topic covered in the event we do get audited. Compliance is a priority. Thanks!