How Long to Keep Business Receipts

If you find yourself tossing receipts left and right, you may want to think again. As a small business owner, keeping receipts is essential for your financial records. And not being able to locate a receipt can be problematic for your business. You need to know how long to keep business receipts to avoid complications with youraccounting books在将来。

What are business receipts?

When a transaction occurs, you either give or take a receipt. Typically, receipts show the purchase date, item(s), and price of each item.

You provide receipts to customers after they buy something at your business. Likewise, you receive a receipt when you buy items for your business.

收据在您的业务中发挥着重要作用。他们为客户提供了购买和所有权的证明。并且,收据信息可以帮助解决客户问题(例如,交换或返回)。

您还可以使用业务收据进行税务。收据在会计书籍中加强您的交易历史记录。并且,收据支持您列出的信息small business tax return.

How long to keep business receipts

您应该保留经营收据多久了?在保持收据时,最好是安全而不是抱歉。将收据存储更长的时间可以使您的业务受益。

The general rule of thumb is to keep business receipts for as long as the IRS canaudityour records. Usually, the IRS auditsthree years worthof records. Keep your business receipts for at least three years in case you need to show proof of purchases or sales.

In some cases, the government may look further back into your records. The IRS may audit six years worth of financial information for businesses suspected of fraud or tax underpayment.

Some other instances that might require you to hold onto receipts for a longer period include:

  • 如果您从回报中省略收入
  • If you deducted the cost of呆帐或worthless securities
  • If you don’t file a return

If you’re unsure about how long to keep a receipt, consult with an accountant to find out more information.

How long to keep business receipts

Exceptions

你可能想知道,我需要保留所有业务收据吗??根据美国国税局, you do not need to save every business receipt.

You do not need to save a receipt if one of the following applies:

  • 您的费用(除了住宿)不到75美元
  • You have a transportation expense where a receipt isn’t readily available

商业用途花费不到75美元,您仍必须向IRS报告费用细节。提供费用的费用,日期,位置和目的。

Importance of keeping receipts

As a business owner, it’s easy to get behind on tracking and organizing paperwork. However, you must save business receipts to keep your accounting books up-to-date and consistent.

Even though it can seem tedious, keeping business receipts can benefit your small business. Business receipts can:

  • Help you prepare for an audit
  • Support information on tax returns
  • 保持你的书准确

Receipts can help you prepare for an audit. Although there aredifferent types of audit,许多审计包括第三方审核员审核您的财务信息(例如,外部审计)。

During the audit, the auditor checks for inconsistencies on your small business tax return. Without receipts, it’s difficult to show the auditor that your information is correct. In case of an audit, keep records that back up your tax return information.

业务收据也有助于保持您的书籍准确。您保留的收据越少,您的会计书籍的可能性就越有可能。要将书籍保持正确,请定期记录收据。尽快为您的书籍添加收据信息,以获得您业务的准确金融快照。

How long to keep business receipts

存储业务收据的方法

There are a few ways to store your business receipts for safekeeping. You can组织业务收据using filing cabinets and folders. Or, you can opt to use a digital system or receipt scanner to store receipts.

If you store paper receipts, consider categorizing them by type (e.g., travel expenses) and chronological order for easy access. Use folders, cabinets, and labels to cut down on receipt clutter.

No laws require you to keep business receipts in paper form. Instead of storing paper receipts, consider using a digital method. You can invest in a receipt scanner to transfer receipts from paper to other devices, such as a computer or smartphone. You can also take photos of your receipts and store them on your devices.

Regardless of how you store business receipts, stay consistent with your method. That way, you aren’t scrambling to find a receipt when you need it.

Need help organizing your small business transactions? Patriot’s online accounting software is easy to use to track income and expenses. And, we offer free, U.S.-based support. What are you waiting for? Get started with your自导的演示today!

This article has been updated from its original publication date of December 9, 2016.

This is not intended as legal advice; for more information, please点击这里。

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