Medlin Software has built in capability to create PDF files.
A PDF preview is fairly close to what will appear on paper when you send the
report to your printer. Printing a saved PDF may not exactly match what would
have been printed if you sent the report directly to a printer. Printing a PDF can
have a lower resolution and PDF readers may have varying print capabilities.
Just because you can save a report as a PDF does not mean you can avoid
printing to paper (going paperless). At a bare minimum, there are certain
items you should print and retain for record keeping and tax compliance.
·Accounts Receivable - Accounts Receivable Ledger for each month.
·Accounting - General Ledger, Balance Sheet, and Income Statement for
·Payroll - Each tax form filed. Payroll Ledger for each payroll period. Other
records, such as W-4, I-9, record of time worked (time cards/sheets). Check
with your state for state specific requirements.
Relying only on PDF files for record keeping is foolish, at best, given the risk of
not being able to reproduce the records and the onerous IRS regulations. The
last time you replaced your computer, did you get all the files onto the new
computer with no issues? What will you do if your computer fails, is stolen, is
damaged, or suffers a power outage?
· IRS Rev. Proc. 97-22
· IRS Rev. Proc. 98-25
· The IRS may conduct a records evaluation at any time to review the
taxpayer's record retention practices.
· The IRS may periodically test the authenticity, readability, completeness and
integrity of the taxpayer's electronic data retained in conformity with the
· Taxpayers are required to notify the IRS if any electronic data is lost, stolen,
destroyed, damaged, or otherwise no longer capable of processing; or is
found to be incomplete or materially inaccurate.
· The notification given to the IRS must identify the affected records and
include a plan describing how and when the records will be recovered or
· A taxpayer’s use of a third party - such as a service bureau or timesharing
service to provide the taxpayer with an electronic storage system for its books
and records - does not relieve the taxpayer of the responsibilities described in
this revenue procedure.