A business that doesn't keep proper invoices can make accounting and tax administration much harder. Good invoicing is part of financial management, not just administration, especially since sequential numbering helps identify missing or duplicated invoices.
Source: SARS — Record Keeping and VAT requirements
Frequently Asked Questions
How long should businesses keep tax records?
SARS has specific record-retention requirements depending on the type of taxpayer and records.
Can electronic invoices be used?
Yes — electronic records can be used when they meet applicable requirements.
Why should invoice numbers be sequential?
A consistent numbering system makes transactions easier to track and helps identify missing or duplicated invoices.