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To edit receipts using the CamScanner app, first download it from the Apple App Store or Google Play. Open the app and use the camera button to scan the receipt by aligning it in the viewfinder. After capturing the image, you can crop it to desired dimensions. Once satisfied with the cropping, press the check mark to process the image. The tutorial suggests using the "magic color" feature for best results, enhancing the scanned receipt's appearance. This method helps create a professional-looking edited receipt quickly and efficiently.