Clients Books

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT member discussion
Can anyone tell me what they do with clients paperwork. My only conern with keeping it is if it gets damaged i.e. fire or something? I just wondered what normal practice was.

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Clients Books

    I usually give it back to the client, all bundled up into one pile with elastic bands to keep the files together (or in a box if there are lots of files) and put a big note on the top saying 'Paperwork for 2006/07, retain until 31 Jan 2013'
    Also, remember to take photocopies of anything you might need the next year so you don't have to ask the client to locate it for you.
    I guess if you had a fire/(more likely a flood!) and paperwork got damaged then you should be covered by insurance.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Clients Books

    We always give it back, after scanning on any info we may need for next year. Our fees and our insurance do not cover long term storage of accounts.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Clients Books

    I always give it back to the client as soon as I have finished the work - my wife would complain otherwise!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Clients Books

    I try to get rid of things ASAP - otherwise I would have to pay a fortune in storage costs :roll: my loft ain't big enough!

    Claudia

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Clients Books

    Thanks for your comments. I was beginning to wonder where on earth everything would go :shock:
    I a presuming though that you all hold onto them until their account is settled???!!!?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Clients Books

    What I do if i'm preparing accounts & tax return for a client once a year is return their books to them when they come to collect their accounts, but I tell them that the tax return won't be submitted until my bill is settled. Most of them settle on the spot but others post a cheque later. If I was to hold onto the books i'd have to make another appointment to see them. I've never had any problems doing it that way.

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