Starting your own business can be pretty exciting. Being your own boss, working on the projects you want to, and being responsible for your own tax matters. In this series, we cover some of the key topics you need to know before getting into business. In this video, you will learn more about record keeping and how to keep good records. Find out more about record keeping: [ Ссылка ]
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More information:
Businesses, organisations, non-profits and charities have certain tax obligations when setting up. They may also have obligations with other government agencies like the Companies Office or Charities Services. Find out more: [ Ссылка ]
Records make it easier to work out your income and expenses, GST if you're GST registered and meet your employer obligations if you have staff. Find out more about record keeping: [ Ссылка ]
It's important you keep accurate and complete records of your income and expenses for 7 years. You must keep records of all cash and electronic sales and purchases. Find out more about keeping records of income and expenses: [ Ссылка ].
If you liked this video, why not watch more of our Business Basics series: [ Ссылка ]
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#InlandRevenueNZ #IRD #business #businessbasics
0:00 Intro
0:20 Record keeping example
1:30 Financial statements
2:52 Wrapping up
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