It is important you keep accurate and complete records. Your business records should include banking information, proof of income and expenses, cash books and wage books. You can also get free advice from a Business tax information officer or a Kaitakawaenga Maori if you need assistance with your record keeping.
Introduces the different areas of record keeping and links to further detail on each
Learn who must prepare financial accounts and what the minimum requirements are.
Provides some tips and a visual example of entries in a wagebook
If you have computerised accounting and record systems, you need to make sure that these are set up and maintained correctly. We can accept data in a variety of formats for audit purposes. You need to consider how you will access older data if you upgrade or change your system.
Inland Revenue's specialist Community Compliance Officers offer free tax education and advice to new businesses and smaller organisations.
Learn what records of income you should keep for tax purposes
Provides a visual example of a tax invoice.
Provides information on keeping a deposit book including a visual example.
Provides information on recording sales and purchases in a cashbook, including a visual example.
Learn what kind of banking records to keep for tax purposes and how to record money withdrawn for personal use or personal money introduced to the business
Learn what records of expenses you need to keep for tax purposes
Provides information on keeping a petty cash book and gives a visual example.
Did you know?
From May 2008 people applying for new IRD numbers will receive a nine digit number. As an employer, your payroll system will need to be able to accommodate both eight and nine digit numbers.
Date published: 24 Nov 2004