ATO conducted a "protecting honest business campaign" and found that small businesses needed to improve their record keeping.
Common findings are:
-
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 of the day; and
-
Paying their employees cash-in-hand.
https://www.ato.gov.au/General/Other-languages/In-detail/Information-in-other-languages/Record-keeping-for-small-businesses/
