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  • Manual or paper records

    Manual record keeping may require more time spent on paperwork, but can be ideal for business owners who have simple affairs or are not confident with electronic based systems.

    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 superannuation 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.

    Cash register tapes can be discarded 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.

    Last modified: 09 Feb 2017QC 42999