Having a record-keeping system that will allow you to meet your tax and GST obligations is essential, and the ATO encourages you to put something in place that works for you, right from the start. This will save you time and effort later on.    

Your record-keeping system can be digital or manual. The ATO is progressively moving towards digital reporting, so they recommend digital record-keeping where possible. The same record-keeping principles and practices apply, regardless of the system you choose.

The ATO’s Record-keeping evaluation tool can help you assess how well you’re keeping your business records.

The module ‘Protecting yourself and your business’ provides further information on keeping your records safe.

Additional information on managing your records and meeting your obligations can be found in our Record-keeping course for small businesses.

You can find other resources that may be useful such as, digital record-keeping, on the ATO website.