What is an attachment?
An attachment is a document that serves as proof of a transaction or action. When you buy an item, an attachment documents the transaction you have made.
In a business, all transactions should be recorded so there is documentation for each individual transaction.
It can be, for example:
- Receipt – proves that a purchase has been made
- Invoice – shows what has been purchased or delivered and what it has cost
- Bill – shows what is owed for a product or service
- Paycheck – shows what has been earned in salary and what has been deducted in taxes and other expenses
You can handle electronic invoices automatically with Acubiz
For most businesses, digitizing and automating expense management is an advantage. With Acubiz, you can get a digital solution that ensures optimization in your company.
Different types of attachments can look different. Here are some examples:
- Creditor invoice: the receipt that is attached to a purchase order
- Credit note: the receipt a seller sends to a buyer when a deal is canceled
- Debtor invoice: the receipt that is prepared from the seller to the buyer
- VAT return: the receipt that shows the statement of the VAT demanded by the tax authorities
Storing Attachments
As a business owner, keeping track of your financial documents and transactions is essential.
Therefore, proper attachment storage is also essential, so you can always access and share accounting material if the authorities knock. They can do this if there is doubt about whether you have calculated and reported the accounts correctly.
How long should attachments be kept?
In Denmark, you are obliged to bookkeep and store your accounting material for at least five years as a business. This means that during the five years following the end of the respective accounting years, you are responsible for the attachments, which must also be easily accessible.
This applies regardless of whether attachments are stored in a folder on your computer or in a binder on a shelf.
Digitalization of Attachments
In 2022, a new accounting act was passed to eliminate physical receipts and old binders. This means that all attachments in the future must be stored digitally.
Digitizing attachments makes it easier to search attachments if needed. In addition, it is much easier for you as a company to send or share attachments (e.g., with authorities) when necessary.
As one of the requirements for storing attachments is that they are easy to access, it is also easier to meet the requirement with the digitization of attachments. For example, you can more easily manage attachments by storing accounting material in an online cloud such as Google Drive or OneDrive on any server, so authorities can easily access it.
This way, you also avoid having crumpled receipts lying around in the office somewhere.
Do you want to know more?
Are you looking for a more efficient and flexible process for bookkeeping receipts? Acubiz can help your business with various processes within expense management. You can also integrate our app with your company’s daily tools, such as salary systems and corporate cards.
Contact us if you want to know how we can help your business or book a free online demo to learn more.
FAQ
What is an attachment?
An attachment is a document that verifies a transaction or action. Companies record attachments to document the company’s transactions for the Tax Authority.
How do you create an attachment?
To create an attachment, you must first identify the relevant information you want to document. Then you can create the attachment in the desired format: a PDF file, an image, a table, or a graph. Finally, you can attach the attachment to the relevant main document or the bookkeeping.