floridaflatlander Posted June 24, 2014 Share Posted June 24, 2014 How do you guys keep bookkeeping records of transactions? An example is you pay for a domain name, monthly hosting or anything that you receive an email receipt for and a receipt is stored on the vendors website. Say up to 7 years. Quote Link to comment https://forums.phpfreaks.com/topic/289278-how-do-you-keep-bookkeeping-records-of-transactions/ Share on other sites More sharing options...
requinix Posted June 24, 2014 Share Posted June 24, 2014 In a database? I'm not sure what you're asking. Record the data, don't delete it, and present it to whomever you want however you want. Quote Link to comment https://forums.phpfreaks.com/topic/289278-how-do-you-keep-bookkeeping-records-of-transactions/#findComment-1483181 Share on other sites More sharing options...
floridaflatlander Posted June 25, 2014 Author Share Posted June 25, 2014 If a vendor has receipts for monthly hosting from the last several years and you get audited by Mr. IRS, how do you prove that you spent money with that vendor? In the old days I would provide a hard copy for each and every expense. Now everything is on my hosting providers website and if they wanted a hard copy I'd have to wade through and print each receipt for the last several years. Quote Link to comment https://forums.phpfreaks.com/topic/289278-how-do-you-keep-bookkeeping-records-of-transactions/#findComment-1483183 Share on other sites More sharing options...
KevinM1 Posted June 25, 2014 Share Posted June 25, 2014 (edited) If a vendor has receipts for monthly hosting from the last several years and you get audited by Mr. IRS, how do you prove that you spent money with that vendor?[/size] In the old days I would provide a hard copy for each and every expense. Now everything is on my hosting providers website and if they wanted a hard copy I'd have to wade through and print each receipt for the last several years.[/size] Then do that? I have a filing cabinet with hard copies of most things, and I can print out the receipt of just about anything since I purchase 99% of what I use for work online, and have an email record that lasts years. Edited June 25, 2014 by KevinM1 Quote Link to comment https://forums.phpfreaks.com/topic/289278-how-do-you-keep-bookkeeping-records-of-transactions/#findComment-1483184 Share on other sites More sharing options...
requinix Posted June 25, 2014 Share Posted June 25, 2014 If a vendor has receipts for monthly hosting from the last several years and you get audited by Mr. IRS, how do you prove that you spent money with that vendor?Using their receipts. That they made available to you, which you hopefully copied for yourself because an auditor won't accept an excuse of "but I can't access my receipt online anymore". In the old days I would provide a hard copy for each and every expense. Now everything is on my hosting providers website and if they wanted a hard copy I'd have to wade through and print each receipt for the last several years.Well yeah, if someone wanted hard copies of stuff which only happened digitally, somebody would have to do a lot of printing. Obviously. In general the IRS accepts electronic receipts. See procedure 97-22 (starts on page 9) for the legal details. Disclaimer: as with all legal advice given freely on the internet, you should take anything said with a grain of salt and contact a lawyer if it's that important. Quote Link to comment https://forums.phpfreaks.com/topic/289278-how-do-you-keep-bookkeeping-records-of-transactions/#findComment-1483185 Share on other sites More sharing options...
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