IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

Retention of a bill of lading

September 21, 2021

Share

Q. I would like to know if a bill of lading (BOL) should be retained/saved? Our current process is, goods delivered are scanned into our system and we print a "Receiving Slip" which is returned to the vendor/carrier as proof of delivery. We cannot make any adjustments once the vendor/carrier walks out with the "Receiving Slip" and it is considered final. We also retain the BOL. This BOL lading is sent to AP and AP labels it and scans it & saves it electronically. This is a very time consuming…

Become A Member

Join IOFM today as a Professional, Business, or Enterprise Member — or upgrade your Starter Membership — to get access to this content and thousands of other Articles, Webinars, Expert Answers, Resource Downloads, and more!

Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know.

Ask The Expert is a member resource of IOFM and all advice provided is subject to site’s Terms of Use.

What are you waiting for?

1

Become a Member

2

3

Attend an Event

Subscribe to our Monthly Insider

You may unsubscribe from our mailing list at any time. Diversified Communications | 121 Free Street, Portland, ME 04101 | +1 207-842-5500

Accounts Payable & Procure-to-Pay ›

Accounts Receivable & Order-to-Cash ›