The regulations relating to the storage of invoices vary by country, but in North America and Western Europe, there is a common misconception that invoices have to be stored in paper format.
On our travels, that is why we normally see filing cabinets containing copies of invoices.
For small companies, current and previous years invoices may be contained in filing cabinets in the office.
As companies grow in size, so does their requirement to store invoices and I have seen rooms devoted to storing invoices, and in the case of a number of distribution companies, warehouse space was taken up with copies of old invoices!
Large companies often use dedicated external file storage providers.
Continue reading Do Invoices have to be Stored in Paper Format?
