Questions tagged [record-keeping]

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6 votes
2 answers

How to write down each month borrowing over past month

Since Pandemic I had lost my job and borrowed money or money sent by my parents from saving but I couldn't write it down as I am financially illiterate/bad with maths. Now and in past, it has caused ...
localhost's user avatar
  • 595
4 votes
2 answers

Do central banks really dispose of old currency the way it's shown in movies?

I have watched many movies where people who want to rob a load of money, Just wait until the federal reserve pulls money back to them and right in between them removing the serial numbers from their ...
Joseph Casey's user avatar
1 vote
0 answers

Is me sending some Bitcoin to a Tor service a transaction? Or only when I buy something with those Bitcoin from the Tor service?

I've started recording all my money transactions, be them fiat or Bitcoin. Now I wonder how to record the following situation: I have an existing 0.05 BTC in my Bitcoin Core wallet running on my ...
Tomy's user avatar
  • 11
2 votes
1 answer

How should I handle charges which are one sum when they are pulled from my bank account, but then later change?

I order groceries including some bananas. The store charges my bank account with $150, which shows up as -$150 in my bank account. Some days pass and the delivery takes place. I don't get any bananas ...
Henach F.'s user avatar
28 votes
4 answers

Would simplistic date / amount / description bookkeeping "cut it" legally?

I've read many articles and texts over the years about running companies and personal finances. Every time, I sink down in my chair, mentally exhausted from the utterly confusing, cryptic material I'...
Lg Dolbier's user avatar
-1 votes
1 answer

Which software is suitable to track my investment portolio [closed]

Nowadays I am using google spreadsheet to track my portfolio. Is there some better software for this? Another problem is that some parts of my portfolio are highly volatile (but I want to keep those ...
J.V.'s user avatar
  • 1
1 vote
1 answer

How specifically are hidden financial assets (especially investment accounts) discovered during legal procedures?

I am interested in learning about financial asset discovery / forensic accounting. In particular, I'm curious as to how an investigator would locate a 'hidden' investment account. By this I mean an ...
Brian R's user avatar
  • 1,866
2 votes
2 answers

Is there any data on the degree to which confidential financial information is taken from trash and then used fraudulently?

This question is prompted by How to Safely Destroy a Large Quantity of Valid Blank Checks. For decades, I've put torn up confidential financial information into the garbage (not the recyclable trash),...
ab2's user avatar
  • 1,890
4 votes
2 answers

What form should I keep my tax records in?

... and for how long? I have many years of IRS tax records taking up space. I wanted to do one of two things. Throw some or all of them out. Convert them to electronic form by taking pictures of ...
Sun - FE's user avatar
  • 111
0 votes
1 answer

Alternative to IRS Online Transcript (for W2, Paystub)

I am trying to get IRS online transcript to obtain needed info for my W2 and paystub for most recent period (year). However, for me it doesn't seem possible to get that classical online transcript. ...
ricardo's user avatar
0 votes
3 answers

A ledger to note buying and selling of equities

I was wondering if there are any ledgers to make such entries. I trade regularly and I would like to make a good record of it.
Sara's user avatar
  • 101
2 votes
0 answers

What Details Do I Need to Keep for Tax Returns for Arbitrage Trading (UK)?

I've just started doing some arbitrage trading using a couple of online cryptocurrency exchanges, but I'm not sure what details I need to keep for the tax man. Do I need to keep a record of all my ...
Sam OT's user avatar
  • 215
1 vote
3 answers

How to analyze personal record? And how to improve recording?

I have the record of my bank account movements back from mid of 2013. It consisnt of date, 'description', change and balance. There are 1300 entries. Most of the descriptions are undescriptive, like '...
f.rodrigues's user avatar
0 votes
1 answer

How long should I keep financial records for closed brokerage accounts? [duplicate]

For example, if I close a brokerage account and move the monies to an account with a separate company, is there a reason to keep records beyond the tax year, or beyond the time to retain tax documents?...
mattm's user avatar
  • 2,126
3 votes
1 answer

Should I keep copies of my business's invoices for tax records?

As a sole proprietor in the U.S., is there a good reason to keep copies of the invoices issued to my clients? I do not personally benefit from invoices after they are paid. But is there any situation,...
user avatar
5 votes
1 answer

Best Practices for Managing Paper Receipts

I'm curious to get some input from the community on best practices for managing paper receipts, whether personal receipts or business-related receipts. For example... What are the arguments for ...
A. Ro's user avatar
  • 151
5 votes
1 answer

Closing business bank account. What records should I download from my bank for record keeping?

We are about to close our small business bank account. I need advice on what information I should download from online-banking before I actually close the old account. I imagine that getting these ...
john1234's user avatar
  • 637
1 vote
1 answer

Do I need to save paper receipts to be able to return items?

I bought an expensive bed at Ikea. Can I just take a high quality picture of the receipt or should I save the paper one? I said Ikea, but I'm asking in general because I'd prefer to just take pics/...
red888's user avatar
  • 133
3 votes
0 answers

A record of deposits for Roth IRA? [duplicate]

Years ago I contributed to two Roth IRAs. At some point I combined them into one. I am now trying to determine how much in total I contributed to Roth IRAs over those years, but alas, my paperwork ...
birkner's user avatar
  • 31
0 votes
2 answers

Which documents are important to retain?

The IRS requires individuals living in the United States to retain certain documents, for audit purposes. Are there any other documents that are useful to retain, in addition to those already ...
John Walthour's user avatar
2 votes
1 answer

What's an account called that always balances to 0?

I use a pretty standard double-entry system in GnuCash (Income/Expenses, Assets/Liabilities). With my wife going back to school this fall, I did something in my accounting that I haven't done before: ...
Stephen Cleary's user avatar
3 votes
1 answer

How important are records of fraudulent applications?

How important is it to try to get copies of the fraudulent applications/materials used by the thieves? This appears to be a consumer right according to the FTC, but the companies seem not to want to ...
stackuser's user avatar
  • 227
6 votes
1 answer

How to report my revenue from Apple iAds and App Store sales, without an invoice?

For accounting purposes, we need an invoice for accounts receivables, but when you get a payment from Apple for iAd revenue and app sales, how do you issue an invoice ? Are there any specific ...
guru's user avatar
  • 205
6 votes
1 answer

Do I need to keep paper records for my business?

Do I need to keep paper records of invoices, receipts and anything else required for running a business? Ideally I am hoping that scanned copies are sufficient when running a business.
marvc1's user avatar
  • 161
6 votes
2 answers

Archive Financial Records by Account or by Year

I recently moved, and I am in the process of figuring out a filing system for my financial records, etc. I am a fairly astute record-keeper, but my new house has limited storage options, and I need to ...
Emily's user avatar
  • 163
3 votes
3 answers

How long should I keep an uncleared transaction in my checkbook?

About three months ago I went out to eat and paid for the meal with a combination of a gift card and my debit card, afterwards the portion that was paid via debit card was recorded properly and since ...
anonymous's user avatar
  • 1,189
3 votes
3 answers

Bank statements - should I retain hardcopies for tax or other official purposes (or keep digital scanned copies)?

Should I retain bank statements hardcopies for tax or other official purposes? Or are scanned digital copies valid in such circumstances? I am a salaried employee with no other income and fairly ...
therobyouknow's user avatar
19 votes
2 answers

What's the difference between 'cleared' and 'reconciled' in my financial accounting software?

Been using GNUCash for the past four years, and I'm slowly learning the more advanced features over time. Until now I've never needed to bother with future dated transactions, but recent large ...
jldugger's user avatar
  • 7,437
4 votes
5 answers

What is a good way to keep track of your credit card transactions, to reduce likelihood of fraud?

I hear of scams where people take your credit card number and then just occasionally take out $20 here and there. On your statement it'll just look like something innocent to make it look like a trip ...
Joe.E's user avatar
  • 6,070
9 votes
3 answers

What should I do with my paper financial documents?

Lets face it, we're all going to run out of room at some point, I'm certainly in that category. I've got far too much paperwork I have a whole cabinet full of old paperwork, such as: Monthly bank ...
user155695's user avatar
21 votes
5 answers

How long should I keep my bills?

Until now I've kept all my bills, but it's too much paper. Gas, Water, Electricity, telephone, etc. Why is it a good idea to keep them? For how long should I keep them?
d-_-b's user avatar
  • 357
11 votes
8 answers

Do you keep ATM receipts? Why might keeping bank ATM receipts be a good habit?

Do you keep ATM receipts? I've occasionally heard some bank-insider's tips that say it's a good habit to keep the ATM receipts and check them against the online bank log. Having a programmer ...
Lorenzo's user avatar
  • 393