Comment: A couple questions (Score 1) 187
Just a couple questions come to mind:
First: What is the purpose of keeping the information? If it's just to have a record for your own sake of what and when and how much, do you even need to scan the statement or receipt or keep the original? or can having all the info imported into a money manager be enough?
I've been using Quicken for over a decade (still using Quicken 2000 actually as later versions are bloaty) to keep all my financial history in detail. For answering questions like "When did I buy that Belkin KVM switch so I can see if the warranty period has expired" searching the register is good enough as I add enough info the memos. In this example (real one from just a week ago), finding the information easily was enough, and it's to my advantage to have all the individual statements and detail items combined into larger account histories rather than parse an archive tree full of pdf/ocr files (FWIW: even this old version of quicken lets me attach scans of receipts to entries)
Second Question: In what cases is the Original Paper required as opposed to a scan? If you need to show an original statement, receipt or other document to prove some thing or get something approved, do you know when an electronic copy or reproduction is as acceptable as the original? I don't think this is an area with consistent clear cut answers yet because of its newness.
Let's take an admittedly unlikely example. You have a house but have moved to take a job out of state, and you're trying to sell the house. Some scumbag squatter moves in and tries submitting false documents to claim ownership. All the documents relating to purchase and any mortgages have been scanned and shredded. Will the courts, police, banks, city and county offices etc. give you any trouble because they are not signed originals? What if the scumbag claims you fabricated the documents (like he did) and his are the originals? What if some entities accept a scan and others don't?
I've implemented a hybrid system where different documents get scanned / destroyed at different times. I have a single card-file cabinet (Filing cabinet with half-height drawers). Paper copies of everything from the current year and previous year are kept in a drawer. At the end of each year, I take all the documents from year-1, shred most of them (assuming any need for them has past), and put the ones I deem most critical in a small box to archive.