Good record keeping is the mainstay of accounts management. It assists you in both meetings your compliance obligations and providing verification for all your business transactions.<\/p>\n
The Government requires that relevant records exist to support all business transactions \u2013 purchases, sales, payroll, and other business matters such as loans or foreign currency dealings. It is a business owner\u2019s responsibility to maintain and store accurate records for all financial transactions.<\/p>\n
Did you know that you are allowed to store all business records digitally? This is both more efficient and sustainable than having to keep years\u2019 worth of paper records at your office.
\nThe most important thing to take care of if you are moving to electronic record-keeping is the security of your information.<\/p>\n
Using systematic electronic record-keeping makes it so much easier to run your business, as you will not waste time trying to find documents when you need them \u2014 whether that\u2019s for yourself, your bookkeeper or your tax agent.<\/p>\n
Most government departments allow business records to be either in paper or digital format. The legal requirements for record-keeping are the same, regardless of format.<\/p>\n
All records must be:\u2022 True and correct
\n\u2022 Unaltered once stored
\n\u2022 In English and legible
\n\u2022 Stored in a secure system, whether physical or digital
\n\u2022 Easily accessible if required
\n\u2022 Held securely for the statutory five to seven years, depending on the type of record.<\/p>\n
For best protection, store records both locally on your business computers and secure external online storage. This makes the records easily accessible from anywhere at any time. Always take care of who has what level of access to your documents and manage user access accordingly.<\/p>\n
If you need help setting up digital business systems, we’d love to hear from you. We can also get you set up with encrypted digital signature technology to streamline your business admin even further.<\/p>\n","protected":false},"excerpt":{"rendered":"
Good record keeping is the mainstay of accounts management. It assists you in both meetings your compliance obligations and providing verification for […]<\/p>\n","protected":false},"author":2,"featured_media":301,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[1],"tags":[],"translation":{"provider":"WPGlobus","version":"2.10.4","language":"fr","enabled_languages":["en","es","de","fr","ru"],"languages":{"en":{"title":true,"content":true,"excerpt":false},"es":{"title":false,"content":false,"excerpt":false},"de":{"title":false,"content":false,"excerpt":false},"fr":{"title":false,"content":false,"excerpt":false},"ru":{"title":false,"content":false,"excerpt":false}}},"jetpack_featured_media_url":"https:\/\/www.asapfinance.com.au\/wp-content\/uploads\/2022\/01\/xero-certified-advisor-logo-hires-RGB.png","_links":{"self":[{"href":"https:\/\/www.asapfinance.com.au\/fr\/wp-json\/wp\/v2\/posts\/1446"}],"collection":[{"href":"https:\/\/www.asapfinance.com.au\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.asapfinance.com.au\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.asapfinance.com.au\/fr\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.asapfinance.com.au\/fr\/wp-json\/wp\/v2\/comments?post=1446"}],"version-history":[{"count":16,"href":"https:\/\/www.asapfinance.com.au\/fr\/wp-json\/wp\/v2\/posts\/1446\/revisions"}],"predecessor-version":[{"id":1463,"href":"https:\/\/www.asapfinance.com.au\/fr\/wp-json\/wp\/v2\/posts\/1446\/revisions\/1463"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.asapfinance.com.au\/fr\/wp-json\/wp\/v2\/media\/301"}],"wp:attachment":[{"href":"https:\/\/www.asapfinance.com.au\/fr\/wp-json\/wp\/v2\/media?parent=1446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asapfinance.com.au\/fr\/wp-json\/wp\/v2\/categories?post=1446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asapfinance.com.au\/fr\/wp-json\/wp\/v2\/tags?post=1446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}