How to keep accurate, complete records
It is important you keep accurate and complete records. Your business records should include banking information, proof of income and expenses, cash books and wage books. You can also get free advice from a Business tax information officer or a Kaitakawaenga Maori if you need assistance with your record keeping.
- Business tax information officers
Inland Revenue's specialist Business tax information officers offer free tax education and advice to new businesses and smaller organisations. - Keeping a wagebook
Provides some tips and a visual example of entries in a wagebook - Keeping accurate, complete records
Introduces the different areas of record keeping and links to further detail on each - Records of income
Learn what records of income you should keep for tax purposes - Tax invoices
Provides a visual example of a tax invoice. - Deposit books
Provides information on keeping a deposit book including a visual example. - Cashbooks
Provides information on recording sales and purchases in a cashbook, including a visual example. - Banking records and drawings
Learn what kind of banking records to keep for tax purposes and how to record money withdrawn for personal use or personal money introduced to the business - Records of expenses
Learn what records of expenses you need to keep for tax purposes - Petty cash books
Provides information on keeping a petty cash book and gives a visual example. - Keeping records on computer for audit
If you have computerised accounting and record systems, you need to make sure that these are set up and maintained correctly. We can accept data in a variety of formats for audit purposes. You need to consider how you will access older data if you upgrade or change your system.
Did you know?
From May 2008 people applying for new IRD numbers will receive a nine digit number. As an employer, your payroll system will need to be able to accommodate both eight and nine digit numbers.
- This information is provided by Inland Revenue
Keeping records (Running a business)
