Start with a record system for sales, expenses, banking, assets and any staff. Keep registration details, agreements and opening balances together so the accounting file can be established consistently.
What this means in practice
Set a routine for collecting receipts and reconciling accounts. Decide how invoices will be issued and how customer payments will be followed up. If you have employees, payroll records and approval processes need to be ready before the first pay run. The aim is a system you can maintain, not an elaborate setup that becomes a burden.
Your next steps
- Keep registration confirmations
- Set up banking and invoicing
- Choose a receipt collection process
- Agree a reporting calendar
Get help with the next step
If this relates to your business, tell us about your current records and the task you need help with. We can explain our service scope and the information needed before work starts.
Official guidance: ATO: Record keeping for business ↗
General information prepared on 26 September 2026. Rules and individual circumstances can change. Confirm the treatment that applies to you before acting.
Prepared by the Affordable Bookkeeper content team. Our services and practitioner arrangements.
