Keeping business records

Keeping accurate and complete records is important and will save your business time and money. It's also a legal requirement for statistical and tax purposes.

Accurate record keeping gives you better control of your business and makes it easier to file your tax returns. Keep records of:

• banking information
• income and expenses
• PAYE
• cash and wage books
• assets and liabilities
• business plans and agreements
• minute books.

You'll need to keep your records in New Zealand and in English (unless you have an exemption from Inland Revenue).