Invoices and receipts are useful long after a payment clears. They support tax returns, explain transactions and help resolve customer or supplier questions.

The general five-year rule

SARS says a person who has submitted a return generally needs to keep the supporting records for five years, counted from the date the return was submitted. Different starting points or longer periods apply in some situations.

For example, records may need to be kept longer when a required return has not been submitted, or while an audit, investigation, objection or appeal is still open. Do not destroy records simply because five calendar years have passed if one of those circumstances applies.

Which records should you keep?

A useful business file normally includes:

  • sales invoices and credit notes;
  • supplier invoices, till slips and receipts;
  • customer receipts and proof of payment;
  • bank statements and deposit records;
  • contracts, quotes and purchase documents;
  • tax returns and the calculations behind them; and
  • correspondence that explains an adjustment or unusual transaction.

SARS’s small-business guidance specifically highlights supporting documents such as sales slips, invoices, receipts and bank deposit slips.

Keep records orderly and readable

SARS says records should be kept in their original form, in an orderly fashion, in a safe place and available for inspection. Electronic records are permitted subject to the applicable requirements.

Use a consistent file name and folder structure. A simple pattern such as 2026-10_supplier_amount_reference.pdf makes later searches easier. Keep a backup that is separate from the device you use every day, and test that you can restore it.

Connect the proof to the transaction

An invoice tells you what was bought or sold. A receipt or bank entry shows that money moved. Keeping those records linked reduces the time needed to answer questions and prepare accounts.

For expenses, capture the supporting slip while it is still readable. Add the supplier, date, amount, business purpose and category. For customer payments, record the receipt once and allocate it to the correct invoice or invoices.

Review retention before deleting anything

Set a yearly records review, but treat deletion as a controlled step. Confirm the filing date, whether a dispute or audit is open and whether another law or commercial agreement requires a longer period.

This article is general information, not legal or tax advice. Check the linked SARS guidance and ask a qualified adviser about your circumstances.