It depends on how your licensing agency wants them. I live in Colorado, and I file quarterly taxes to the state and annual business taxes to the city. For the state I don't have to list what the items are, only total amounts. For my city licensing I have to list everything and show what the purchases were at the end of the tax year. I only have to list categories such as thread, batting, equipment, notions, etc and I do not have to show quantities.
But I keep all of the paper receipts. When I've filed my quarterlies, I staple everything together because I'm an absolute expert at misplacing things.