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    melissaS3kid's Avatar
    melissaS3kid Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 22, 2017, 08:20 PM
    Accounting Paper Files
    I started working for a new company, and they do not keep paper files! They enter the invoices, pay them all through Quickbooks. Then the invoice and check stub Don't get filed. They get shredded. If it is an invoice related to a product or a re-sale item, then it is scanned. So basically, all the regular monthly invoices are NOT kept or scanned (phone bill, ins, etc).
    Is this correct? I about had a heart attack today, I am so use to keeping a paper file on EVERYTHING in regards to a business accounting dept.
    Am I just old school ?
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Feb 22, 2017, 09:55 PM
    I would expect an electronic copy would be kept, at least for audit purposes. The practice you describe would allow a breakdown of internal control so that payments could be made without evidence. I expect the instructions have been misentrepreted
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