Do I need to keep paper invoices and receipts?

Aug 15

If you are able to store invoices and receipts in an electronic format that can later be reproduced on paper, you can toss all that paper goodbye - AFTER you scan them and upload them to a folder.

We suggest uploading or attaching invoices and receipts to transactions within your accounting software or uploading well organized receipts and invoices to a cloud-based drive that has an automatic back-up of your files. We find it easiest to rename the files for quick future reference as “Year.Month.Day - Vendor Name - Account used to pay” so it would look something like this 2021.11.22 - Costco - Chase 9099.

So, what are you waiting for? Think of all the office space you will get back once everything is available electronically!

This Q&A does not constitute legal, accounting, or tax advice and

does not address state or local law.

April Salsbury

April Salsbury, MBA is a strategist, an analyst, an operational guru, a recognized leader and C-suite global healthcare executive with drive and focus for competitive markets. Co-host of The Business Forum Show and regular contributor to various business journals, she possess multi-functional and multi-national competencies with more than 20 years experience in business and healthcare. Her expertise is in invigorating revenue growth and infusing value of lean practices in growing companies through improvements to cash flow and operations management.

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