Manual or paper records

Some paper record keeping tools you might use in your business are:

  • sales dockets or cash register tapes
  • receipt books
  • petty cash book
  • wages and super payment records
  • stock records
  • daily, weekly or monthly sales reconciliations
  • cash books – a cash payments book, a cash receipts book, a combined payments/receipts book or a simple money column account book
  • reconciliation of daily sales
  • bank reconciliations.

Record keeping requirements

You must keep all records:

  • for five years after they are prepared, obtained or the transactions completed, whichever occurs latest
  • in English, or in a form that we can readily access and convert into English.

You can discard your cash register tapes after one month if:

  • you keep Z-totals and
  • they have been reconciled with actual sales and the amount you banked.

If you don't keep the Z-totals and reconciliations, you must keep the full rolls of tape for five years.

See also:

Last modified: 03 May 2016QC 42999