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• # 70525
• Tue 03 May 2011 07:50 AM

Hi All,

I have just started my practice and I would like to know, apart from MLR forms etc. what records would we need to keep in relation to a client's accounts? I'm assuming final accounts etc. but do we need to keep any copies of invoices/bank statements etc.? I'm assuming just invoices for large purchases and bank statements for the year end?

Any help would be very much appreciated!

Thanks.

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• # 70620
• Fri 06 May 2011 07:32 AM

I've allways thought this would be a great article for INvoice and the ICB should tackle this one. It would be good to get some guidance on this.

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• # 70631
• Fri 06 May 2011 10:17 AM

Hi Tony,

Thank goodness you replied I thought I was the only one having these concerns!

James/Ami or anyone at ICB could we please get some guidance as to what we need to keep? My house isn't very big so I don't want to be keeping copies of 100's of invoices etc.

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• # 70658
• Fri 06 May 2011 03:46 PM

Hi "Lady M"

I doubt it's just you and I

I also asked a similar question a while ago and got a similar response.

If it's any help (or maybe provoke some discussion).

I certainly wouldn't keep all client invoices. I do keep copies of client bank statements on file and each month end I keep a copy of the sales and purchase ledgers, tb, pl & b.sht.

For Vat returns I keep a copy the physical return, a copy of the electronic submission and a copy of the proof of payment.

Payroll I guess is a little more complicated and depends if you're working from home or a clients premises.

From a Statutory point of view. I have an electronic copy of Certificate of Incorp, Vat Cert and MLR doc's.

I'd appreciate other members thoughts?

Edited at 06 May 2011 03:48 PM GMT

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