Institute of Certified Bookkeepers
First Previous - Page 1 of 1 - Next Last

Keeping original source documents

  • Affiliate
  • 4 posts
  • # 116327

Hi there,

I have a question regarding keeping original source documents.  I photocopy all of the receipts that are from thermal cash register rolls as they fade.  My question is, Do i have to keep the original even though it will fade and I have made a copy?

Thanks

  • 35 posts
  • # 116328

Hi Celliott,

No you don't need to keep the original. An electronic copy is considered acceptable by the ATO.

I would just make sure you have a backup of the electronic copy, using something like Google Drive makes that very easy.

  • Affiliate
  • 4 posts
  • # 116329

Thank you Microkeeper!

I thought as much but thought I had better check to be sure.  I appreciate your response.

  • 4 posts
  • # 117545

celliott said:

Hi there,

I have a question regarding keeping original source documents.  I photocopy all of the receipts that are from thermal cash register rolls as they fade.  My question is, Do i have to keep the original even though it will fade and I have made a copy?

Thanks

Hi Celliott,

You can also keep records in electronic form using a computer and accounting software.You’ll appreciate the advantages of keeping record of source documents in electronic form.
When you scan and upload the documents to your cloud software while on the go, you archive them instantly and this makes retrieving them later much easier as you can do a search based on the date or description. Ctrl+F is something you can’t do with paper.
For more information you can read this blog https://www.efficiencypartners.com.au/how-to-leverage-time-and-generate-greater-returns-for-your-business/

 



Edited at 25 Feb 2019 12:05 PM GMT

  • 4 posts
  • # 117546

Hi Celliott,
You can also keep records in electronic form using a computer and accounting software.You’ll appreciate the advantages of keeping record of source documents in electronic form.
When you scan and upload the documents to your cloud software while on the go, you archive them instantly and this makes retrieving them later much easier as you can do a search based on the date or description. Ctrl+F is something you can’t do with paper.
For more information you can read this blog https://www.efficiencypartners.com.au/how-to-leverage-time-and-generate-greater-returns-for-your-business/



Edited at 25 Feb 2019 12:09 PM GMT

First Previous - Page 1 of 1 - Next Last
loading