Keeping Invoices/GST Receipts in electronic format?

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acsonline

181 posts

Master Geek

#61799 24-May-2010 12:44

Hi guys, been in (a self-run) business for 2 years now and am getting snowed under by the amount of receipts we have to file and documents that come through in the mail. Fuel, maintenance, repair, telephone, parking, travel, equipment, IRD paperwork, etc. etc.

There are just too many. Worst thing is those receipts printed on "fax/thermal paper" wear out over time.

Im thinking of scanning and digitising all the receipts and documentation - so as they come in, they get scanned on a weekly basis - and the paper ones get shredded after keeping them for xyz (1??) month.

Can anyone advise on how they handle this? Nirvana would be completely digital (with offsite backups).

Thanks!

NZCoderGuy

513 posts

Ultimate Geek

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Kiwi Dev Studios

#334016 24-May-2010 13:05

There are quite a few places now that offer digital receipts - especially for Powerbills, purchases online etc - which already take one hassle off you.
That being said, i work from home, which i send my Internet/Phone bill in PDF to my employer which they use for paying. They use the digital copy to give to the tax man etc. So shouldn't be a problem.

--
Stephen
twitter/ NZCoderGuy / KiwiDevStudios

nate

6473 posts

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#334142 24-May-2010 17:25

acsonline: Im thinking of scanning and digitising all the receipts and documentation - so as they come in, they get scanned on a weekly basis - and the paper ones get shredded after keeping them for xyz (1??) month.

A couple years back I had a client who scanned in every invoice and binned the original. I'm not too sure if this is legal, I'd suggest you talk to your accountant - they will know.

acsonline

181 posts

Master Geek

#334163 24-May-2010 18:18

Thanks! Will check with the accountant.
Just wanted to see what other people did.

Aaroona

3196 posts

Uber Geek

#334270 24-May-2010 22:41

The other side of this is;

If its for warranty, be very careful. Because some places won't accept photocopies or non-original receipts.

The warehouse for example have a ultraviolet light in which they scan their receipts when making a return or exchange. They will not accept a photocopy. So for warranty purposes keep the original.

Byrned

455 posts

Ultimate Geek

#334332 25-May-2010 09:05

Aaroona: The other side of this is;

If its for warranty, be very careful. Because some places won't accept photocopies or non-original receipts.

The warehouse for example have a ultraviolet light in which they scan their receipts when making a return or exchange. They will not accept a photocopy. So for warranty purposes keep the original.

I would imagine they could have legal issues with this, especially with the receipts being printed on thermal paper which can fade quickly if not stored properly.

I know of places that will refuse to do exchanges or refunds without the original, which is fine, but they'll accept a copy for warranty purposes.

tchart

2379 posts

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#334363 25-May-2010 10:23

Byrned: especially with the receipts being printed on thermal paper which can fade quickly if not stored properly.

+1

Cant tell you how many DSE receipts I have that are barely readable after a few months