Why is record keeping important?
- If you have all your records available, it is much easier to file your tax returns
- Lets you access information you need when you need it
- If you need a loan in the future it will be much easier to apply for one
- Your tax position can easily be determined
- IRD can audit your business at any stage. There will be less time spent on the audit if your records are well kept
How and what is needed to be recorded?
- Any information or documents about sales, income and expenses, assets and liabilities.
- Records can be paper based of through a bookkeeping software package
- Keep all your records throughout the year.
- Keep records of all cash and non-cash transactions
- All records kept up to at least seven years both paper and electronic
How we can help?
- We will help you understand all your record keeping obligations
- We use accounting software and have proper filing methods that can help your business
- Help you comply with your record keeping standards
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