Record keeping | Essentials to strengthen your small business

Record-keeping requirements

You should organise your records into these categories:

payments you receive
expenses that relate to earning your employment income
expenses that relate to other payments you receive or make.

Record keeping

Record keeping overview

10 mins

What is a record?	0%
Five rules for record keeping	0%
Benefits of keeping accurate and complete records	0%
Setting up and managing your business records	0%
Accountability for record keeping	0%
Digital or manual record keeping?	0%
Storing your records	0%
Activity	0%

Tasks and tips

6 mins

When to do record-keeping and reporting tasks	0%
Tips for banking records	0%
Record-keeping tips	0%
Activity	0%

Starting your business records

2 mins

Bringing goods you already own into your business	0%
ABN registration	0%
Evidence you are in business	0%
Activity	0%

Digital record keeping

5 mins

Advantages of keeping your records digitally	0%
Digital storage of paper records	0%
Providing the ATO with copies of records	0%
Cloud storage	0%
Choosing record-keeping software	0%
ATO app	0%
Activity	0%

Manual or paper record keeping

2 mins

Paper record keeping	0%
Digital storage of paper records	0%
Activity	0%

Banking records

2 mins

Banking	0%
Bank accounts	0%
Activity	0%

Income records

3 mins

Tax return records	0%
Personal Services Incomes (PSI) records	0%
Pay as you go instalment records	0%

Accounting for private use of assets

9 mins

Private use of business assets	0%
Using trading stock for private purposes	0%
Avoid mistakes	0%
Common mistakes	0%
Claiming deductions for private assets	0%
Incorrectly apportioning deductions	0%
Private company benefits giving rise to a deemed dividend	0%
Creating an FBT liability	0%

Motor vehicle deductions records

2 mins

Motor vehicle deductions records	0%

Home-based business deductions records

1 mins

Home-based business deductions records	0%

Other deductions records

1 mins

Other deductions records	0%
Business travel expenses	0%

Stock and asset records

5 mins

Records from stocktakes	0%
Records of depreciating assets	0%
Capital gains tax assets	0%

GST records

1 mins

Records required for GST	0%

Employee records

7 mins

Payments made to employees	0%
Super contributions for employees	0%
Super fund choice records	0%
Pay as you go (PAYG) withholding records	0%
Fringe benefits tax records	0%

Car fringe benefits records

1 mins

Car fringe benefits records	0%

Expense payment FBT records

2 mins

Expense payment FBT records	0%

Contractor records

2 mins

Contractor records	0%

Sharing economy records

1 mins

Sharing economy records	0%

Cryptocurrency records

1 mins

Cryptocurrency records	0%

Records for other taxes

5 mins

Fuel tax credit business records	0%
Luxury car tax records	0%
Wine equalisation tax records	0%
Petroleum resource rent tax records	0%

Sole trader structure records

4 mins

Record-keeping requirements	0%
Payments you receive	0%
Expenses that relate to earning your employment incomes	0%
Expenses that relate to other payments you receive or make	0%

Partnership structure records

3 mins

Record-keeping requirements	0%
Purchase or sale of a business during the year	0%
Record keeping for overseas transactions	0%

Company structure records

3 mins

Record-keeping requirements	0%
Consolidated or multiple entry consolidated groups	0%
Record keeping for overseas transactions and interests	0%

Trust structure records

1 mins

Record-keeping requirements	0%
Record keeping for overseas transactions	0%

Changing your business structure records

1 mins

Changing your small business structure records	0%

Selling or closing your business records

2 mins

Selling or closing your business records	0%

Related courses

1 mins

Related courses	0%

Course Feedback

Course Feedback	0%