Running a business requires good record keeping. Some records must be kept for tax and legal reasons, some for insurance claims and funding reasons and others because accurate records are essential to running a successful business.

Consult your accountant to help you decide which records you need to keep.

Here are also some useful websites to consult:

• Australian Tax Office (ATO)
• Australian Securities and Investments Commission (ASIC)
• The NSW Office of State Revenue (OSR)
• Australian Competition and Consumer Commission (ACCC)
• WorkCover NSW

Some records may also need to be available for public inspection or in the event of a tax audit or dispute in the event of a claim.