Point of Sale Systems and Irish Law
Revenue has issued an information leaflet which highlights the changes to VAT Regulation 8, which came into effect on 2 July 2008. The leaflet has been issued to all VAT registered customers who deal in cash and to cash register suppliers, including software suppliers.
The most significant change affecting cash register records is that each record must now contain the date, time and sequential number.
Cash register transaction records, whether electronic or in paper format (audit rolls or printed journal), are required to be kept for a period of 6 years
All of our cash registers have the capability to store these records electronically either internally or using removable media. The alternative is to store audit rolls for a 6 year period or to periodically print the journal.
A revenue auditor will expect to see these requirements in place. Don’t get caught out.
NB. It is up to the Store Owner to keep these Audit Records themselves either in paper or electronic form.
Showing 1 to 2 of 2 results for ‘Epos and the Law’
Code of Practice for Revenue Audit03 Dec 2015
Revenue audit code of practice
an indicative timeframe for the conclusion of the audit. Where a Revenue Audit requires transfer of electronic data from a taxpayer’s computer or EPOS systems to Revenue, the taxpayer or his/her information
Code of Practice for Revenue Audit and other Compliance Interventions21 Oct 2014
Revenue audit code of practice and other compliance interventions
an indicative timeframe for the conclusion of the audit. Where a Revenue Audit requires transfer of electronic data from a taxpayer’s computer or EPOS systems to Revenue, the taxpayer or his/her information
Epos and the Law