When it comes to small business accounting, record keeping is everything. Keeping decent records can help minimise your taxable income, can save you a lot of time, and can make things a lot easier when it comes time to file your tax return.
If you are struggling with record keeping, you’re not alone – most small business owners have some sort of trouble keeping the right records, and this often comes back to bite them at tax time. If you don’t really understand what your obligations are when it comes to record keeping, you should think about speaking to an experienced accountant.
What sort of records do I need to keep?