Is paperless for me?

????????????????????????????????????????Dear TaxDetective
Why is the tax department requiring me to provide them with copies of my bank, credit, debit, loan and investment statements?

I chose the paperless option to avoid chopping down more trees. Is it all for naught?

Signed: Doing my bit for the planet

Dear Doing my bit…

The tax auditor is likely looking to confirm that your sales were collected, your purchases paid, and your investments accounted for. They can’t do that without your financial transaction statements and the documentation behind that, the reasons for deposits, cancelled cheques and transfers. They may want to compare your deposits to your revenue, and may assess if deposits are greater than revenue and the difference can’t be explained.

Going paperless requires a whole new level of awareness about electronic record keeping. In both Canada and the US, the CRA and the IRS, respectively, have rules about electronic records. You’ll find they have a great deal of information on the subject on their websites. It’s necessary to have electronic records available, in the correct format, for as many years as set out in the laws of various jurisdictions.

If the computer system isn’t secure, and backed up frequently with an off-site backup system; and there’s no organized system for storing documentation, the move to paperless can be a slippery slope.

Going paperless anyway? You’ve read the rules and are sure you can comply?

First, determine what it’s necessary to keep and how best to store it.

Second, create a procedure manual to record the system chosen so it can be recalled as often as necessary.

Third, just because you’ve gone paperless, doesn’t mean you can actually shred or destroy the paper. Unless you’ve used the right type of electronic record keeping tools, you may not meet the technical criteria.

Don’t lose heart. There are reasons to go paperless. Going paperless is great for convenience, for ease of search, or to share documents across platforms. In reality, for most of us, shredding the paper to go completely paperless is a vision that may not be achievable until electronic record keeping rules are easier to comply with.

But those reasons don’t mean you can destroy or shred your financial paper. If you haven’t kept your paper, there are ways to get it back. It may require some detective work, and it may cost if the financial institution isn’t prepared to provide it free of charge. If you were going paperless to save a tree, it may cost you to recover your paper. Sigh. Everything comes at a cost.

Regardless of whether systems are papered or paperless, what to keep is always the question.

To help you get started, here’s my “flipsnack” of a workbook for organizing financial paperwork:

Find out more at:

Signed: TaxDetective, Eileen Reppenhagen, CGA, Certified QuickBooks ProAdvisor in Delta, BC, Canada

Add a Blog


  1. Hi! Do you know if they make any plugins to help with SEO?
    I’m trying to get my blog to rank for some targeted
    keywords but I’m not seeing very good success.
    If you know of any please share. Thanks!

  2. I think this is among the most significant information for me.
    And i’m glad reading your article. But want to remark on few general things, The web site style is
    great, the articles is really nice : D. Good job,

  3. First of all I want to say wonderful blog! I had a quick question that I’d like
    to ask if you don’t mind. I was curious to find out how you center yourself and clear
    your head before writing. I’ve had a hard time clearing my mind in getting
    my ideas out. I do take pleasure in writing however it just seems like the first 10 to 15 minutes are lost just trying to figure out how to begin. Any suggestions or hints?

    Many thanks!

  4. Attractive section of content. I just stumbled upon your blog and in accession capital to assert that I get actually enjoyed account your
    blog posts. Anyway I’ll be subscribing to your augment and even I achievement you access consistently quickly.

  5. Hello there, I discovered your blog by the use of Google at the same time as looking for a comparable matter, your site came up, it appears great. I have bookmarked it in my google bookmarks.

  6. Thanks for one’s marvelous posting! I genuinely enjoyed reading it, you are a great author.I will always bookmark your blog and will often come back someday.
    I want to encourage you to ultimately continue your great job, have a nice day!

  7. Wonderful blog! Do you have any hints for aspiring writers?

    I’m planning to start my own website soon but I’m a little lost on everything.
    Would you advise starting with a free platform like WordPress or go for a paid option? There are so many options
    out there that I’m completely confused .. Any tips?
    Bless you!

  8. I was recommended this website by my cousin. I am not sure whether this post is written by him as nobody else know such detailed about my problem. You’re wonderful! Thanks!

  9. I have seen that right now, more and more people are now being attracted to surveillance cameras and the area of digital photography. However, to be a photographer, it’s important to first spend so much time period deciding the exact model of camera to buy in addition to moving via store to store just so you could possibly buy the least expensive camera of the brand you have decided to choose. But it would not end at this time there. You also have to take into consideration whether you should purchase a digital dslr camera extended warranty. Thanks for the good recommendations I gained from your weblog.

  10. Very nice post. I just stumbled upon your blog and wished to mention that I have truly enjoyed surfing around your weblog posts. After all I will be subscribing in your rss feed and I am hoping you write again very soon!

  11. Good post. I learn something totally new and challenging on blogs I stumbleupon everyday. It will always be useful to read through articles from other writers and use a little something from their sites.

  12. I blog quite often and I seriously thank you for your content. This great article has really peaked my interest. I will take a note of your website and keep checking for new information about once per week. I opted in for your Feed too.

  13. In these days of austerity in addition to relative stress about having debt, a lot of people balk resistant to the idea of using a credit card in order to make acquisition of merchandise and also pay for any gift giving occasion, preferring, instead only to rely on the particular tried as well as trusted technique of making payment – cash. However, if you possess cash there to make the purchase entirely, then, paradoxically, that’s the best time for them to use the card for several motives.

  14. I just could not depart your web site prior to suggesting that I extremely enjoyed the standard information a person provide for your visitors? Is going to be back often in order to check up on new posts

  15. Thank you for the auspicious writeup. It in fact used to be a entertainment account it. Glance advanced to far delivered agreeable from you! By the way, how could we communicate?

  16. I like the helpful information you supply to your articles. I’ll bookmark your blog and take a look at once more right here regularly. I’m rather sure I will be informed many new stuff right right here! Best of luck for the following!

  17. 361927 858800I truly like this blog website, will surely come back once more. Make confident you carry on creating quality content articles. 825301

  18. Thanks for the various tips contributed on this blog site. I have realized that many insurers offer prospects generous discounts if they favor to insure many cars together. A significant quantity of households possess several autos these days, specifically those with old teenage youngsters still living at home, as well as savings with policies can easily soon mount up. So it will pay to look for a bargain.

  19. Sweet blog! I found it while browsing on Yahoo News. Do you have any tips on how to get listed in Yahoo News? I’ve been trying for a while but I never seem to get there! Thanks

  20. One more important issue is that if you are a mature person, travel insurance with regard to pensioners is something you should make sure you really take into consideration. The elderly you are, the greater at risk you’re for allowing something poor happen to you while in most foreign countries. If you are not really covered by quite a few comprehensive insurance policy, you could have several serious challenges. Thanks for sharing your hints on this blog site.

  21. Having read this I believed it was really informative. I appreciate you finding the time and effort to put this information together. I once again find myself personally spending way too much time both reading and commenting. But so what, it was still worth it!

  22. What i don’t understood is in fact how you are no longer actually much more smartly-preferred than you may be right now. You are very intelligent. You recognize therefore significantly with regards to this topic, produced me individually consider it from a lot of numerous angles. Its like men and women aren’t involved unless it is one thing to do with Girl gaga! Your individual stuffs nice. Always care for it up!

  23. An impressive share! I have just forwarded this onto a colleague who has been doing a little homework on this. And he actually ordered me dinner due to the fact that I stumbled upon it for him… lol. So allow me to reword this…. Thanks for the meal!! But yeah, thanks for spending time to talk about this matter here on your web site.

  24. I am really inspired with your writing abilities and also with the format to your weblog. Is that this a paid subject matter or did you customize it your self? Anyway keep up the excellent high quality writing, it’s uncommon to peer a great weblog like this one these days..

  25. Your style is very unique in comparison to other people I’ve read stuff from. Thank you for posting when you have the opportunity, Guess I will just book mark this site.

  26. I truly wanted to send a brief word so as to express gratitude to you for these amazing instructions you are giving out here. My time consuming internet investigation has finally been recognized with pleasant facts to exchange with my two friends. I ‘d believe that many of us readers actually are very fortunate to exist in a good network with so many outstanding people with very beneficial pointers. I feel very happy to have used the site and look forward to many more cool times reading here. Thanks once more for everything.

  27. Thank you for sharing superb informations. Your website is very cool. I am impressed by the details that you’ve on this site. It reveals how nicely you understand this subject. Bookmarked this website page, will come back for more articles. You, my pal, ROCK! I found just the information I already searched all over the place and just could not come across. What an ideal web-site.

  28. hello there and thank you for your information – I’ve certainly picked up something new from right here. I did however expertise a few technical issues using this site, as I experienced to reload the website a lot of times previous to I could get it to load correctly. I had been wondering if your hosting is OK? Not that I’m complaining, but slow loading instances times will very frequently affect your placement in google and can damage your quality score if advertising and marketing with Adwords. Anyway I am adding this RSS to my email and could look out for a lot more of your respective fascinating content. Ensure that you update this again soon..

  29. There are actually a lot of particulars like that to take into consideration. That is a great level to deliver up. I provide the thoughts above as basic inspiration however clearly there are questions just like the one you deliver up the place an important thing will be working in trustworthy good faith. I don?t know if best practices have emerged around issues like that, however I am positive that your job is clearly identified as a fair game. Both boys and girls really feel the influence of only a moment’s pleasure, for the rest of their lives.

  30. I have mastered some important things through your blog post. One other stuff I would like to mention is that there are lots of games on the market designed especially for toddler age small children. They contain pattern recognition, colors, creatures, and styles. These generally focus on familiarization in lieu of memorization. This helps to keep little kids occupied without sensing like they are learning. Thanks


Please enter your comment!
Please enter your name here