What is primary accounting documentation and how to store it?

Primary accounting documentation is the foundation of a company's record-keeping. These documents crucially confirm the conduct of business transactions. They primarily ensure the reliability of accounting data and can serve as evidence in potential disputes. Additionally, during tax audits, they play a key role, as tax payments are calculated based on their availability.

Definition of primary accounting documentation

According to MinFin Order No. 88, primary documents are written or electronic evidence confirming that a business transaction has taken place. They contain all required information about a transaction, giving it legal force and allowing it to be recorded in accounting. Such documents are mandatory for bookkeeping. Requirements for their creation, storage, and withdrawal are set by specific national laws.

What are the main types of primary accounting documentation?

The law does not provide an exhaustive list of all primary accounting documents. However, common types include:

• expense invoice;
• goods-and-transport invoice;
• act of completed works (services);
• cash order;
• invoice;
• accounting memo, etc.

The list is not exhaustive, as each company’s specifics may require additional documents. The key rule is that every business transaction must be documented. For detailed information — please request a consultation with our specialist accountant.

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Legal forms of primary accounting documentation: what does the law approve?

Primary documents are usually created using standard or specialized forms approved by relevant authorities. However, for transactions without unified forms, companies may develop their own templates (including all mandatory details required by law).

Previously, documents had to be created on the day of the transaction. Now, transactions may be entered into accounting registers within the reporting period in which they occurred. In other words, it's not mandatory to create a document immediately after the transaction, but they must be prepared within a reasonable time.

All primary documents must be in Ukrainian. According to MinFin Order No. 88, they must also include:

• full company name;
• document title;
• date of issue;
• description and quantity of the transaction;
• unit of measurement (monetary or natural);
• positions and names of individuals responsible for the transaction;
• signatures of authorized persons.

How to properly store primary accounting documentation?

All primary documents and financial statements must be stored in the company archive—in dedicated rooms, cabinets, or safes. Electronic documents must be stored on secure digital media to preserve integrity.

Retention periods are regulated by the Tax Code of Ukraine and Ministry of Justice Order No. 578/5. The main terms are:

• 2,555 days (7 years) for documents necessary for tax control;
• 1,825 days (5 years) for documents related to tax calculation and payment;
• 1,095 days (3 years) for other documentation.

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Accountant support for primary accounting documentation: what services are provided?

An accountant at our legal firm handles primary documentation from form design to preparation for tax audits, offering tasks such as:

Accounting consulting

1. Analysis of current document flows (identifying weaknesses and implementing improvements);
2. Development of internal standards (instructions for drafting, processing, and storing documents);
3. Consultative support during reporting and record-keeping.

Accounting outsourcing for business

1. Processing and organizing primary documents (receipt, verification, data entry);
2. Creating primary documents based on company data;
3. Coordinating with counterparties on document preparation and attestation;
4. Preparing financial and tax reports;
5. Proper storage and archiving of documents.

Accounting services from Prikhodko & Partners are cost‑effective for businesses. If you want to optimize proper handling and storage of primary accounting documentation, contact us now. To find out service costs — please fill in the form below.