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To edit receipts, first download the app CamScanner, available on Apple and Google Play. The tutorial demonstrates scanning a receipt using the app. After launching the app, use the camera button to capture the receipt, then crop it as desired. Once cropping is complete, click the check mark to process the image. The presenter emphasizes that the best color setting for receipts is the "magic color," which enhances brightness and clarity. This feature is highlighted as ideal for creating clear and convincing edited receipts.