Keep invoice receipts or just original invoice?

Question

When dealing with invoices, I always end up with atleast 2 documents, the first is the original invoice with the date and amount owed, the second is a receipt showing the invoice paid and the date it was paid on. Is it best to just hold on to both documents? Could I just keep one instead of the other?

Natalie Kolodij · Answer

If ever audited it's always better to haveit and not need it vs. the opposite. Just set up a system that works for you to easily scan all docs inot a specific drive folder. You can often haev receipts/invoices auto sent to an email too and have an automation setup to do it as well.

Cliff Benner · Answer

For my clients we set up a Box account, because it is free and tell them to put both in there, name it the same thing with a "A" and "B" at the end or a "1" or "2" just for proof. But I would suggest keeping whatever proof it would take to prove an expense to an Auditor as a rule of thumb. That could be both because a receipt might not have details on what something is but shows what you paid while an Invoice shows the item's details with the wrong amount having both helps prove it is X but it only costed me Y

Bill B. · Answer

Worst case hang on to the second one that shows/proves you paid it. An invoice isn’t an expense fi you didn’t pay it. I pay all bills with credit cards and that’s been enough.