Maintain > Recordkeeping

Here is what the IRS has to say about record keeping.

IRS Video regarding recordkeeping


Recordkeeping Tips

  • Bank Statements – it is imperative that you keep copies of all your bank statements along with canceled check images.  If you want to “go green” and forego the paper records, then
    • Make sure you can access these two sets of records
    1. official bank statement and
    2. canceled check images
    • That you download and save them each month to your computer
    • That these files on your computer are adequately backed up
  • To “go green,” implement a scanning program for receipts and vendor invoices or use an outsourced scanning service such as NeatReceipts or Shoeboxed.
  • Keep back ups of your accounting software or reports that serve as a “hard copy.”  You can run reports in your software and save these electronically as PDF or Excel files.
  • Be aware of what records your professional licensure may require.