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    ATO warning regarding small business record-keeping

    ATO warning regarding small business record-keeping

    According to the ATO, of all of the things that can cause small businesses to fold, "high on that list is poor record keeping". More than half of the businesses they visited in their Protecting honest business campaign needed to improve their record keeping. Issues they found include businesses: estimating their sales and income; using the 'no sale' and 'void' button on cash registers when taking cash payments; not keeping cash register tapes and not reconciling at the end
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