What is the fiscal value?

"fiscal value" is a term used to identify the value of the record value in terms of documentation for some type of financial transaction. Records that have this type of values ​​are usually maintained at least until businesses or transactions are not relevant to these documents. At this point, fiscal documents can be coded and administered in the form of a printed copy or archived in electronic format, which allows them to easily obtain them in the future if necessary.

Determining the fiscal value of the document usually includes the identification of the connection that the document has for the transaction. This allows you to determine what value, if it exists, has this document in terms of providing some kind of evidence of the truth of the event, and also to provide proof of certain data related to this event. From this point of view, the fiscal value is also evidence nature that serves as the basis for justifying the chain that occurs withan event under consideration.

Since the fiscal value focuses on evidence regarding the management of a financial transaction, it can be said that financial documents of many types have this type of value. Invoices issued to clients fit in a wide range of this definition because they provide proof that the transaction has occurred and that the payment is still waiting. The invoice continues to be fiscal to the extent that the customer's payment is accepted and is published in the accounting records. At this point, the transaction is considered complete and the invoice is now considered historical value and can be archived for use in other ways, such as supporting documentation when the accounting records are audited for this period.

Many companies recognize records documenting financial transactions related to accounting, which is to be fiscal value, at least until all the document is examinedACE and accounting records concerning this period and are considered true and completed. Depending on the laws and regulations related to the maintenance of business records in the nation, these documents after the audit may be physically kept for several years, which can be obtained whenever and if necessary. This makes it easier to reconstruct the chain of events associated with each transaction and authoritatively respond to any questions or concerns about these transactions.