Paul A. Thomas wrote:
- quote -

(snipped)

- quote -

Used to be, there were two methods of accounting: (come to
think of it, there still are.) the shoe box method, and
the shorter cigar box method. (I like cigar boxes; they're
sturdier; however with shoe boxes, at least the roaches that
get in can also get out)

One of my clients uses a variation; the Federal Express
cardboard envelope method. AT least everything is
organized in months, though. and no further.

Cheer$,
Harlan Lunsford, EA in LA

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Fred Fillinger wrote:
- quote -

"..... THE FINER POINTS OF ADEQUATE RECORDS ARE SUBSTANTIALLY
IRRELEVANT TO AN IRS EXAMINATION!"

I LOVE IT!. Well said, Fred. (with reference to what many
laymen don't know about, methods of "reconstruction" and I
ain't whistling Dixie.

Any time I have a new accounting client in a business like a
restaurant, I try to cover what's in the MSSP... MSSRP?
relating to that industry. Those are really nice guides.

Cheer$,
Harlan Lunsford, EA in LA

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"Raymond" <raymond912002[at]yahoo.com> wrote

- quote -

Probably either is sufficient. In many stores though, the
register retains one copy and the top copy goes to the
customer. In addition, you can and should keep the "Z"
totals from each register.

- quote -

Lots of business do that.

As long as there is sufficient information to tie back to
the deposits, which should tie back to your sales reported.

--
Paul A. Thomas, CPA
taxman[at]negia.net

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"Raymond" <raymond912002[at]yahoo.com> wrote:

- quote -

The better your documentation with the least ability be
altered, the better your numbers will stand up to an audit.

If you have choices, protect yourself with non-disputable
hard records. This may not be the easiest nor require the
least amount of space to archive nor kill the fewest number
of trees, but you will have proof if needed.

You didn't ask, but in my opinion, keep these records in a
very organized filing system. There are several
governmental agencies who may audit your records. It is
very time consuming to try to "get it all together" when
required to do so. A great filing system can mean that you
are always ready for an auditor. The auditor will
appreciate it and the audit will be easier on everyone.

--
Sincerely,
Joanne

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Raymond wrote:

- quote -

IRS doesn't require anything specific here. The Regulations
nebulously state that a t/p "shall keep such permanent books
of account or records, including inventories, as are
sufficient to establish the amount of gross income,
deductions, credits,...." IRS well knows that, for
self-employed t/p's or those operating through corporations
they control, there is no system of records which, prima
facie, can assure that all income has been reported. There
are a number of ways that receipts can bypass a pile of
register tapes if a t/p is so inclined. Accordingly, and
while really bad records are not a good idea, the finer
points of adequate records are substantially irrelevant to
an IRS examination. Record should be designed primarily for
the needs of the business.

F--

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Regarding cash register receits:
Does the IRS require a single(intact) register receit for
each day or can you staple together 50 different receits
from one register that would be the day's sales ?

Can you use a paperless register and write down the daily
sales in a ledger book without supporting documentation ?

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