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Receipts

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    Receipts

    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!

    #2
    Scanned copies are sufficient so long as you can read all of the amounts dates and VAT registration numbers if applicable.

    Comment


      #3
      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


        #4
        Thanks, accountants!

        Stand down NLUK.

        Comment


          #5
          The upside of physical receipts is that they degrade over time, making it difficult to see what the purchase was for...

          #justsayin'

          Comment


            #6
            Originally posted by ladymuck View Post
            The upside of physical receipts is that they degrade over time, making it difficult to see what the purchase was for...

            #justsayin'


            New ones can be degraded in 5 minutes by leaving them on a heated leather car seat

            Comment


              #7
              Originally posted by Jim Spector View Post
              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!
              I photo them, put them in Freegant and shove the paper ones in a box.
              Electronic ones are all backed up and on Onedrive.

              belt and braces
              See You Next Tuesday

              Comment


                #8
                Originally posted by Lance View Post
                I photo them, put them in Freegant and shove the paper ones in a box.
                Electronic ones are all backed up and on Onedrive.

                really OTT
                FTFY
                Clarity is everything

                Comment


                  #9
                  Originally posted by SteelyDan View Post
                  FTFY
                  maybe.
                  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 Tuesday

                  Comment


                    #10
                    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

                    Comment

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