Supplier Statements

Bartira
Bartira Registered Posts: 1 New contributor 🐸
in AAT student discussion
Can anyone tell me pls... what's the current requirement for how long supplier statements' should be kept! Many Thanks.:001_unsure:

Comments

  • Jan
    Jan Registered Posts: 646 Epic contributor 🐘
    I don't think there is any legal requirement to keep them. I reconcile to my records, make the payment and dare I say it .. destroy them!
  • A-Vic
    A-Vic Registered Posts: 6,868 Beyond epic contributor 🧙‍♂️
    I May Be Wrong

    Hey

    I may be totally incorrect but, i thought you had to keep records for 6 years?
  • jen
    jen Registered Posts: 13 New contributor 🐸
    Hi

    As far as I am aware, you dont have to keep them. I do keep them at year end though, because our auditers do ask ti see them to show that the balance reconciled at the year end.

    Jen
  • cherub76
    cherub76 Registered Posts: 22 New contributor 🐸
    I dont think that there is any legal requirement to keep them, i reconcile them and keep them for 3 mnths, that way i can see if they slip in any rogue invoices!!!
  • hannahh
    hannahh Registered Posts: 5 New contributor 🐸
    99% sure theres no legal requirement for statements, just makes your job and the auditors easier. i have been doing some audit work and it really does save a lot of time and makes it a lot easier if the client has kept the statements so do keep them though!:thumbup1:

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