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Questions tagged [record-keeping]

The tag has no usage guidance.

3
votes
2answers
101 views

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 ...
0
votes
1answer
47 views

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. ...
0
votes
3answers
155 views

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.
2
votes
0answers
45 views

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 ...
1
vote
3answers
65 views

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 ...
0
votes
1answer
49 views

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?...
3
votes
1answer
46 views

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,...
4
votes
1answer
154 views

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 ...
5
votes
1answer
152 views

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 ...
1
vote
1answer
2k views

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/...
3
votes
0answers
42 views

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 ...
0
votes
2answers
89 views

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 ...
2
votes
1answer
200 views

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: ...
3
votes
1answer
62 views

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 ...
6
votes
1answer
3k views

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 ...
6
votes
1answer
572 views

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.
6
votes
2answers
323 views

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 ...
3
votes
3answers
2k views

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 ...
3
votes
3answers
1k views

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 ...
18
votes
2answers
9k views

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 ...
4
votes
5answers
2k views

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 ...
9
votes
3answers
416 views

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 ...
20
votes
5answers
32k views

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?
11
votes
8answers
7k views

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 ...