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Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 2608
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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I do bookkeeping for a client who insists on scanning their

Customer Question

I do bookkeeping for a client who insists on scanning their documents and burning the original documents. Examples of the documtents would be vendor bills, credit card receipts, all expense receipts, bank check copies and invoices to customers. In the case of an IRS audit, does the IRS accept scanned copies the same as oriniginals for expense receipts? How about cleared bank checks, does the IRS accept a check register or do they want cleared check records?
Submitted: 1 year ago.
Category: Finance
Expert:  ABC Accounting Group replied 1 year ago.

Hi. Great Questions. I would definitely not burn the original documents. I would keep 10 years' worth of documents (they have 3 years to go back at first, but can go back another 7).

They require the scans to be on an storage system that indexes, stores, preserves, and retrieves the information. They have very strict rules.

On the last question - on the cleared checks - it would show on the bank statement. However, I would attach the copy of the check or the stub of the check to the vendor invoice.

If you have any questions, let me know.