This is where your records should be kept in the 21st century and people with stakes in competitive businesses today simply cannot afford to be managing stacks and boxes of receipts. Paperless is the way to go.
The Canada Revenue Agency (CRA) mandates specific requirements for electronic storage of imaged receipts, but here’s what the CRA says about paperless records:
“If you have imaged your paper books of account and supporting documents according to the Canadian General Standards Board (CGSB) standards, the images become the permanent records. You can therefore destroy the imaged paper item. If you have any doubt about destroying any paper records, get legal advice first.
– “Acceptable format, imaging paper documents, and backing up electronic files” as at December 15, 2017.
For more on electronic record keeping, read here.
What We Provide
We will provide you with a PDF of all you provide to us and we can offer online backup from a Canadian storage solution. We will also provide references to the Canada Revenue Agency’s guidelines on paperless storage. While we are glad to support your backup, we reiterate that as a third party we are not able to be solely responsible for storing your data and cannot replace your own archiving and backup.
Contact me today to learn how to take your business into the 21st century.