• 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