Storage of clients Paperwork...

System

Would it be 'normal' practice to store clients paperwork after the year end - or return it to them?
Just wondered what others did, I would expect to return it to them, but one client has asked that I hold onto it. Ok if there is only a folder full, but not if there are several lever arch files for each one!

Interested to hear how others deal with this?

System

Re:Storage of clients Paperwork...

You don't say what you do for this client - bookkeeping, tax returns, final accounts - but I would think it is the client's responsibility to store his own paperwork once all the professionals have finished with it.
I work as a bookkeeper and hand over to the clients' accountants for end of year wrok. Some accountants like to see all the files when they do the final accounts, others look through the data and ask me to send specific documents. I think it probably easier for me to find requested documents than it would be for the client - after all, I do all the filing. However, I would return everything to the client after year end work is completed. I would quickly run out of space if I stored everything.
Tell him to put it in his attic, or give him the phone number for Big Yellow Storage.

System

Re:Storage of clients Paperwork...

I give back originals to clients ie sales and purchase invoices, bank statements etc. I keep copies of anything I need (like opening/closing bank statements, asset purchase invoices) and ALL my working papers, copy of tax return etc. I couldn't cope with the volume otherwise.

Claudia

System

Re:Storage of clients Paperwork...

I just keep the paperwork I need, like you said, the copy tax return, working papers etc. I always try to get clients to pick up their paperwork as soon as possible once I have finished with it. I just don't have the space. I would say "give it back to them" and let them find the space to store it.