small business accounting

Jun 21, 2006 1 Replies

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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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."

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