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.
Your business records may be manually prepared or paper based.