Keeping the records you will need.
WHY IT MATTERS
Online sales are business income. Records are needed for tax, and for any question about what was sold and when.
WHAT TO KEEP
Every invoice issued Every sale, with date, amount and customer Payment gateway transaction records Bank statements Expenses and receipts Supplier invoices
WHERE
Not only in one system. Export periodically and keep copies you control.
Gateway records are particularly valuable: they are an independent record of every transaction, outside your own database.
PRACTICAL ARRANGEMENT
An invoicing or accounting system, self-hosted or hosted Regular exports A separate business bank account
RETENTION
Records may need keeping for years. Take advice on what applies to your business.
WHAT NOT TO DO
Rely on your website database alone. If it is lost, your sales records go with it. Mix personal and business transactions.
GETTING ADVICE
Speak to an accountant. We can tell you how to export records and keep backups; what you must do with them is outside what we can advise on.
