The Tax Authorities obliges entrepreneurs to have their invoices available for inspection for a minimum of seven years (real estate ten years). With Blue10 you can scan invoices and other administration documents, so that they are stored digitally. They are then stored in our Cloud for ten years, so that you meet this obligation. But what do you actually do with the paper invoices and receipts that you have scanned?
Get rid of piles of paper and overflowing binders
In principle, you no longer need to save paper invoices once they have been scanned and stored online. You can notify the Tax Authorities that you keep a digital record of your entire administration and that you digitize all your paper documents. However, there are a few conditions attached to this, which the Tax Authorities have stated:
- All data must be correctly transferred in terms of content;
- The new data carrier must be available during the entire retention period;
- The converted data must be reproducible and legible within a reasonable time;
- Verification of the data must be possible within a reasonable period of time.
The conditions set out above apply to the conversion of paper documents to digital documents. It is important that the original security features remain visible, such as colour, logo and watermark. The authenticity (origin), integrity (reliability) and readability of the data are also essential. For an invoice, for example, it is important to know that the document actually comes from the indicated supplier and that the content has not been changed.
As long as the correctly converted documents have been made available to the Tax Authorities for at least seven (or ten) years, you no longer have to worry about missing invoices and receipts. Everything is safe in the Blue10 Cloud software, and will remain there for the next ten years. All your documents can easily be found in the archive; this way you always have insight into your financial administration. Want to know more about this? View www.blue10.com/en/product.
Digitization of administration processes
The Tax Authority is responding to changes in the accounting world. More and more suppliers send digital invoices, so it is crazy to print and save them all. The Tax Authority also understands this, and as a result of this, they have drawn up the above conditions for converting documents. Moreover, digitally saving invoices is a sustainable solution for your administration process; it saves a lot of paper, effort and time.