Management data and mandatory accounting records: how to distinguish them under Articles 2214 and 2215-bis

01

The distinction in summary

Article 2214 of the Civil Code requires a commercial entrepreneur to keep the journal ledger and the inventory book, along with any other accounting records required by the nature and size of the business, and to keep in orderly fashion for each transaction the letters, telegrams and invoices received and sent.

Article 2215-bis instead concerns the manner of record-keeping: books, registers, records and documentation whose keeping is mandatory by law, regulation, or by the nature and size of the business may be created and kept using electronic tools, remaining accessible at all times as primary and original information.

02

Why the distinction matters

The rules under Article 2214 on mandatory accounting records, including the obligation to keep documents relating to each transaction in orderly fashion, do not apply to small entrepreneurs. For other entrepreneurs, records and documents must be kept for ten years from the date of the last entry, including invoices, letters and telegrams received and the related copies sent.

03

A role-based procedure

Steps

1. The administration identifies the mandatory records: the journal ledger, which shows day by day the transactions, and the inventory book, drawn up at the start and every year.
2. The accounting manager organizes the orderly retention for each transaction of letters, telegrams and invoices received and sent, distinguishing them from the mandatory books.
3. If record-keeping is electronic, the designated person applies a time stamp and digital signature at least once a year, or at the first entry following a period with no activity.
4. For limited liability companies (s.r.l.), corporate bodies keep separate books maintained by specific roles: directors for the directors' decisions, statutory auditors for the board of statutory auditors.
5. The administration periodically verifies that retention complies with the ten years from the last entry, including invoices and related correspondence.

04

A hypothetical case

Hypothetical case: an SME keeps the journal ledger and the inventory book as mandatory records under Article 2214. At the same time, it keeps in orderly fashion for each transaction the invoices received and copies of those sent, without these documents themselves constituting a mandatory accounting record. Moving to electronic record-keeping under Article 2215-bis, the company keeps the entries accessible at all times and applies the annual time stamping required for books kept using electronic tools.

05

Checks to verify

• The journal ledger records transactions day by day, without significant time gaps.
• The inventory is drawn up at the start of the fiscal year and renewed every year, signed within the required deadlines.
• Invoices, letters and telegrams are kept in orderly fashion for each transaction, distinct from the mandatory books.
• Retention, whether paper or digital, reaches ten years from the last entry.
• For electronic record-keeping, time stamping and digital signature are applied at least annually.

06

How to set up software support

A software partner can be configured to clearly distinguish mandatory accounting records from management documentation, assigning precise roles to those who record daily transactions and those who archive correspondence and invoices. This is a suggested operational choice, not a requirement imposed by the software: the company can request that every electronic entry be traceable, with periodic time stamping and a log of who made each entry, so it can demonstrate at any time the accessibility required for electronic documentation.

07

Frequently asked questions

Small entrepreneurs are exempt from the entire obligation under Article 2214, including the obligation to keep documents in orderly fashion, but the distinction between mandatory records and management documentation remains useful for organizing the business.

Electronic record-keeping is allowed for mandatory books, records and documentation, provided it remains accessible at all times as primary and original information.

The minimum retention period for records, invoices, letters and telegrams is ten years from the date of the last entry.

08

Next step

Map your company documents into two columns — mandatory accounting records and management documentation — and check with your professional whether your current electronic record-keeping meets the accessibility and time stamping requirements.