There isn’t a “better” here. It’s whatever works for you.
You’re making images (photos) of the paper, and storing those in different places; in images wrapped in a PDF file , or images in a Note, or images in Photos library or album will all work. Images in a Pages document would work too, and there are task-targeted third-party apps for receipts and other activities.
PDF files (whether containing text, or containing images as is the case here) can usually be directly passed around to others and across platforms, where Apple Notes documents cannot be as easily transferred.
None of these tools are particularly good at dealing with lots of scans, sorting, or storing them. (Using Photos app probably comes the closest, there.) That’s where third-party apps can work better.
Recent iOS versions can usually capture text from these images too, and purpose-built apps can also often provide that. As an example of this, Photos app has that scanning support integrated, meaning you can search for text in your photo library.