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Subject Author Date
small business accounting Jenny 06-21-2006
Posted by Jenny on June 21, 2006, 1:31 am
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I am a new small business owner.

Do I need to keep canceled checks with invoices? I usually
pay online and don't have canceled checks. Or if I used
credit card, do I need to keep credit card statements with
invoices? I DO keep all invoices and receipts. Just curious
whether I have to keep canceled checks. I rather not keep
them since I have invoices and receipts.

thanks

<< ======================================================= >>
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<< and does NOT constitute legal OR professional advice. >>
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Posted by Bill Brown on June 21, 2006, 1:51 pm
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Jenny wrote:

> I am a new small business owner.
>
> Do I need to keep canceled checks with invoices? I usually
> pay online and don't have canceled checks. Or if I used
> credit card, do I need to keep credit card statements with
> invoices? I DO keep all invoices and receipts. Just curious
> whether I have to keep canceled checks. I rather not keep
> them since I have invoices and receipts.
>
> thanks

More evidence is better if you get audited. For online
payments, print out the page that invariably appears saying
something like "Print this page for your records."

<< ======================================================= >>
<< The foregoing is intended for educational purposes only >>
<< and does NOT constitute legal OR professional advice. >>
<< >>
<< The Charter and the Guidelines for submitting >>
<< messages to this newsgroup are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>

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