Prepared 26 September 2026 · Affordable Bookkeeper content team
Understand the decisions before the forms
Starting a business involves choosing an operating structure, identifying owners and planning how money and records will be managed. Filling in registrations is only part of the work. Structure decisions can affect administration and responsibilities, so obtain relevant advice before committing.
Separate registration tasks
An ABN, business name, company registration and tax registrations are different. The registrations needed depend on the entity and activities. Direct ABN registration is free; a professional assistance fee should describe the work being provided and distinguish other charges.
Set up records while the business is small
Choose a manageable process for invoices, receipts, supplier bills and bank reconciliation. Record opening contributions and assets clearly. Starting with accurate information makes later reporting easier and reduces the work needed to reconstruct early transactions.
Prepare for employees before hiring
If you plan to employ staff, establish the applicable employment terms and the payroll process before the first pay run. Agree how hours will be approved, who checks changes and how payment and reporting responsibilities will be handled.
Know which work can stay with you
Some owners manage daily invoicing and document collection themselves, with an adviser providing review or lodgement support. Others prefer a broader service. Choose a division of responsibilities that fits your time and skills, and keep it documented.
Review the setup as the business changes
New staff, different services, extra locations or higher turnover can change the work required. Review the accounting process periodically rather than assuming the original setup will always be enough. Ask for a revised scope when circumstances change.
Related services
Official guidance: Australian Government: Business Registration Service ↗
General information. The appropriate approach depends on your business and current requirements.
