I am after a tips on the best way to organise paper records keeping (hundreds invoices and paper slips per month) and easy accessing for Audit purposes.
The best practice for storing invoices and packing slips for a big company
Answers
Nat-
1. why not scan and index them/attach them to the relevant AP transaction at the time you process them?
2. change all inbound vendor invoices-ask them to email PDF copies only to a designated email account
Regards
Len
If you use Len's suggestion (I would)... Make sure you have a back-up plan that protects you from loss of data!
Be sure part of that plan has multiple off-site components to minimize the
Thank you .
We have to follow the auditors requirements and keep a paper copy.
I was just after suggestions for filing structure.:)
I'd question my
Here's a brochure on retention from the AICPA: http://www.aicpa.org/interestareas/informationtechnology/resources/businessintelligence/downloadabledocuments/records_retention_mktg.pdf
Nat
If you are a government agency that has yet to modify its internal audit regulations/ policy, paper may be required. Of course that falls apart when there is no paper in the first place, such as EDI or invoices supplied as PDF files. What those auditors do in those cases must be interesting/amusing.
I agree with Wayne-ask your auditor to prove paper is mandatory. If they can't, then ask them to show why you cannot keep digital files.
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