Are scanned copies of receipts sufficient for record keeping relating to expenses, or should the physical copies be retained as well?
Thanks!
PS. I have not asked my accountant!
Thanks!
PS. I have not asked my accountant!
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Scanned copies are sufficient so long as you can read all of the amounts dates and VAT registration numbers if applicable. -
I'll get in before everyone tells you to ask your accountant then!
Scanned copies are fine, speaking practically though it may be an idea to keep these in a couple of locations.
Maybe a hard disk and cloud based.Comment
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Thanks, accountants!
Stand down NLUK.Comment
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The upside of physical receipts is that they degrade over time, making it difficult to see what the purchase was for...
#justsayin'Comment
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Originally posted by ladymuck View Post
New ones can be degraded in 5 minutes by leaving them on a heated leather car seat
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I photo them, put them in Freegant and shove the paper ones in a box.Originally posted by Jim Spector View PostAre scanned copies of receipts sufficient for record keeping relating to expenses, or should the physical copies be retained as well?
Thanks!
PS. I have not asked my accountant!
Electronic ones are all backed up and on Onedrive.
belt and bracesSee You Next TuesdayComment
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maybe.Originally posted by SteelyDan View Post
Till I lose a hard drive (5% a year chance) and then get investigated. Small risk but very little effort to mitigate. And seeing is it's what I do for my clients (reduce risks) I'd be a bit of a tit to not do it myself don't you think?See You Next TuesdayComment
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Are receipts actually necessary? I use a business debit card for all purchases and it's pretty obvious what I've been spending money on??
Starting to sweat it a bit. I've only done my first month so I'm not in the tulip as much as I could be if I really have to have physical copies.
I'll take an envelope in my bag henceforth to stick them in
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