Taz Records - Payables invoice uploads and Sales invoices
Hi,
1. Does the upload of A/P invoices to MYOB fulfill the requirements of the ATO to retain tax records?
2. Are the A/R invoices available for viweing for at least 7 years?
Thanks
Sam
Hi Sam_P
The uploading of documents to the MYOB In Tray is designed to maintain a record of the original transaction with that on the computerised copy of the transaction. Uploading that document will allow aid in the entry of the transaction as the document is read for key points of information. If you do need to retain documents for the purpose or guideline we do recommend consulting that documentation to ensure that it does meet that requirement. From a timing point of view, documents attached to transactions will be available when that file is in the cloud. If the company file has had the financial year rolled over those documents will also still be available.
In terms of actual transactions recorded in the company file, there is currently no purge functionality so provided a transaction has been entered and isn't deleted, it will be available for the lifetime of that file.