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Accounting records

 
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Jenster



Joined: 08 Mar 2016
Posts: 454
Location: Cornwall

PostPosted: Tue Aug 21, 2018 4:56 pm    Post subject: Accounting records Reply with quote

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, itís just the evidence Iím trying to work out how to store. Thanks
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www.seashellsporthtowan.co.uk
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sparkJS



Joined: 27 Nov 2016
Posts: 57
Location: North Cornwall

PostPosted: Wed Aug 22, 2018 7:31 pm    Post subject: Reply with quote

It doesn't really matter how you store your records so long as you can provide them if asked.

I save all PDF invoices and receipts on my bookkeeping system.
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MG
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Joanna



Joined: 23 Aug 2007
Posts: 1007
Location: Chester, North West England & Sidmouth, East Devon

PostPosted: Thu Aug 23, 2018 8:08 pm    Post subject: Reply with quote

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.
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Jo

Joint owner of Baker's Cottage in Chester & Chandler's Cottage in Sidmouth
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Jenster



Joined: 08 Mar 2016
Posts: 454
Location: Cornwall

PostPosted: Fri Aug 24, 2018 2:20 pm    Post subject: Reply with quote

Thanks both. I think my debate with myself is whether my email system is safe enough or whether I really ought to have downloaded locally held copies of everything too. Thereís no reason my email system should become inaccessible, but Iím paranoid I might not have access to it if needed!
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ianh100



Joined: 10 Jan 2013
Posts: 583
Location: Sherborne Dorset

PostPosted: Fri Aug 24, 2018 8:51 pm    Post subject: Reply with quote

Considering the number of years we have to keep records (7?) I think it would make sense to have a copy in more than one location, technology changes fast and something that works today may not be available in 6 years time.
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Lamb



Joined: 13 Mar 2011
Posts: 10
Location: Shropshire, UK

PostPosted: Tue Sep 11, 2018 6:48 pm    Post subject: Reply with quote

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.)
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