Invoices, balance sheets or even journal books are accounting documents that the business manager is required to keep for a certain period. But then why and how to preserve them? Here are the answers to all your questions.
What documents to keep and for how long?
The retention period will vary depending on the nature of your documents (civil, tax, accounting document, etc.) The retention period will vary depending on the nature of your documents (civil, tax, accounting document, etc.). In this case, accounting documents must be kept for a period of time minimum period of 10 years from the closing date of your financial year. The accounting documents concerned are your annual accounts, that is to say your balance sheet, income statement and annex. This also concerns all purchase order and other documents that justify your activity. , purchase order and other documents that justify your activity.
How to store these documents?
You can keep your accounting documents in paper format or in digital format.
The digital version allows simple and quick access to documents but also
avoids the loss of documents over time. You can then opt for online storage
methods via a
cloud or on hard drives.
As for documents in paper format, there are no rules regarding how
to archive them. Make sure to stay organized and put them in chronological
order. Good organization making it easier to find your way in the event of a
tax or social audit.
Controls and penalties
Keeping these accounting documents is important. In the event of a posteriori
audit by the tax administration, these documents serve as proof/supporting
documents. In the event of non-compliance with the 10-year retention period,
you may be fined €1,500.
In addition, these documents will serve as proof in the event of a
dispute with a customer or supplier. In the absence of proof or for use of
forgeries you risk:
- as an individual entrepreneur, up to 3 years in prison and a fine
of €45,000
- as a company you risk €225,000 fine, or sanctions which could lead
to the dissolution of the company.