Which documents should a Hong Kong business keep for its books?
Keep every document that supports an entry in your books: sales and purchase invoices, receipts, bank statements, contracts, payroll and MPF records, asset purchase papers, loan agreements, and stocktake sheets. The test is whether someone else could trace any figure back to its source.
The statutes name the headline items, and practice fills in the rest.
Named by the IRD for business records: books of account, vouchers, bank statements, invoices and receipts, records of assets and liabilities, and for goods traders the buying and selling records plus year-end stock and stocktake records.
Sensible additions for a typical SME:
- sales invoices, credit notes and customer contracts;
- supplier bills and purchase orders;
- bank and credit-card statements for every account, including foreign-currency accounts;
- payroll sheets, payslips, MPF contribution records and employer return copies;
- fixed-asset purchase invoices and disposal records;
- loan, lease and shareholder or director loan agreements;
- petty cash vouchers and expense claims with receipts;
- board minutes approving significant transactions;
- working papers for year-end adjustments.
Keep them for the retention period (7 years under both company law and tax law, counted as explained in our retention answer). Digital copies are acceptable if they meet the conditions in the IRD leaflet on electronic records.
Legal basis
- Inland Revenue Ordinance (Cap. 112), s.51C
- Companies Ordinance (Cap. 622), s.373
Sources
Applies to 2026 · Last reviewed 29 October 2026
General information for business owners, not legal, tax or professional advice. Rules change, so check the sources or ask a licensed professional before you act.
Related questions
- Is a Hong Kong company legally required to keep accounting records?Yes. Section 373 of the Companies Ordinance (Cap. 622) requires every company to keep accounting records that explain its transactions and show its financial position and performance at any time. Directors who fail to take all reasonable steps risk a fine of HK$300,000, and up to 12 months' jail if the failure is wilful.
- How long must a Hong Kong company keep its accounting records?Seven years. Under section 377 of the Companies Ordinance, a company must keep its accounting records for 7 years after the end of the financial year to which the last entry relates. The Inland Revenue Department separately requires business records to be kept at least 7 years after the transactions they relate to.
- What does section 51C of the Inland Revenue Ordinance require from my business?Anyone carrying on a trade, profession or business in Hong Kong must keep enough records, in English or Chinese, to work out assessable profits, and keep them for at least 7 years. Failing to do so without reasonable excuse can lead to a fine of up to HK$100,000.
- Can a Hong Kong company keep its accounting records digitally or scan paper originals?Yes. The Companies Ordinance allows records in hard copy or electronic form, provided they stay available for reference and can be reproduced on paper. The IRD also accepts electronic books and scanned source documents if integrity, legibility and origin details are preserved, and no prior approval is needed.
- What is a financial year end (accounting reference date) for a Hong Kong company?The accounting reference date is the date on which a company's financial year ends each year. Under the Companies Ordinance each accounting period normally runs 12 months from the end of the previous one, and the financial statements are prepared up to that date.