Accounting records
Accounting records
Not sure if this is the right place for this, but I am trying to simplify my accounting system. Is it OK to hold records of bookings, payment requests and acknowledgements, payouts from listing sites etc in my (well organised) email system where they originated? Or should I download and save local copies as PDFs? Similarly, all my bills (water, electric, phone etc) are held in my online accounts with these companies - is that enough or should I again hold downloaded local copies? I have a spreadsheet documenting all the transactions, it’s just the evidence I’m trying to work out how to store. Thanks
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- Posts: 1091
- Joined: Thu Aug 23, 2007 3:12 pm
- Location: Chester, North West England & Sidmouth, East Devon
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I drag & drop email invoices & PDFs into folders for each financial year. I also download the PDF invoices for all the utilities. Mainly because I switch providers every year or so to get the best deals and after switching I've found that I can't get at the online statements any more.
If you're in the U.K. You need to be able to produce evidence for the last 6 years. It doesn't really matter how you store it as long as you can find it if you need to. In 14 years of letting I've never had to present any old paperwork.
If you're in the U.K. You need to be able to produce evidence for the last 6 years. It doesn't really matter how you store it as long as you can find it if you need to. In 14 years of letting I've never had to present any old paperwork.
Jo
Joint owner of Baker's Cottage in Chester & Chandler's Cottage in Sidmouth
Joint owner of Baker's Cottage in Chester & Chandler's Cottage in Sidmouth
I agree with the previous posts. But I have a simple solution to solve your understandable concerns.
Simply open another email account, with different provider just to be sure. Then automatically forward all incoming emails from your main account to your new account. Then forget about it until your email fails.
I did this 15 years ago and just occasionally it has been a life saver! (Not ever been asked by HMRC, but you never know.)
Simply open another email account, with different provider just to be sure. Then automatically forward all incoming emails from your main account to your new account. Then forget about it until your email fails.
I did this 15 years ago and just occasionally it has been a life saver! (Not ever been asked by HMRC, but you never know.)