Paper records can now be discarded immediately after digitization

One of the major changes is the amendment in Chapter 7 of the Bookkeeping Act, which advances the timeline for when paper receipts and invoices can be discarded. Previously, companies were required to retain original documents for three years after digitization. The new regulation allows paper documents to be discarded as soon as they have been digitized, provided that the transfer has been conducted in a manner that ensures the information is not at risk of being altered or lost.

Requirements for secure transfer

To discard the original documents, companies must ensure that the transfer to digital form is carried out securely. This means that technical methods and organizational measures must be robust enough to prevent the accounting information from being lost or altered. Despite the advanced destruction timeline, the requirement to retain the digitized information for seven years remains in place.

When you partner with us at Digitalbok, you do not need to worry about these requirements. We use a secure and reputable accounting software that ensures all your accounting information is handled correctly and safely.

What happens to records before July 1, 2024?

Records that have been digitized before July 1, 2024, are also covered by the new regulations. This means that receipts, invoices, and other documents transferred to digital form before this date can now be destroyed, provided that the transfer has been carried out in accordance with the new requirements. This gives companies the opportunity to clear out older paper documents and reduce their physical storage burden.

We help you simplify and modernize

At Digitalbok, we work digitally to simplify your accounting. With us, you can confidently digitize your accounting and records, eliminating the need to keep track of all paper documents. This frees up time and space, allowing you to focus on moving your business forward.