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  • Advice or help setting up record keeping systems

    Getting help with setting up your record keeping system early will save you valuable time and money in the long term.

    You should consider:

    • whether you'll manage your records yourself, or pay a bookkeeper, registered tax or BAS agent to do all, or part of this
    • what business activities you need to do – for example
      • reconciling electronic and cash payments
      • issuing invoices and paying your own bills
      • making wages and superannuation payments
      • lodging activity statements and tax returns
      • preparing financial accounts, profit and loss statements and balance sheets
    • how often you need to report.

    See also:

    We can help

    We offer a range of free record keeping help. We:

    • run small business webinars, seminars and workshops that cover a range of topics, including GST, PAYG, activity statements and record keeping
    • can provide tailored assistance through our Small business personalised assistance program.

    Find out about:

    Engaging a tax professional

    If you decide to use professional help, you will probably still do some basic record keeping. Ask what record keeping system is compatible with theirs and the services they will provide and charge for.

    Professionals who specialise in helping small businesses can give you advice.

    A person can't charge you to prepare and lodge tax returns unless they're registered as a tax agent with the Tax Practitioners Board (TPB). Similarly, a person can’t charge you to prepare or lodge activity statements unless they are registered as either a tax agent or BAS agent with the TPB. However, if you have a paid employee who is a bookkeeper or accountant, they can do this work for you without being registered.

    When paying for these services, make sure you understand their fee structure and agree on the services you get them to do on your behalf.

    Next step:

    Other support available

    Other service providers can also assist you. Some of these services are free but it's good practice to ask if there's a fee.

    Places you can get help from include:

    • state or local government business development offices, such as the Department of Industry, Innovation and Science, offer simple and convenient access to information, transactions and services for planning, starting and running your business
    • community small business advisory services
    • business enterprise centres.

    See also:

    Last modified: 10 Jan 2018QC 42985