Institute of Certified Bookkeepers

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Access Denied: Cash Transaction Reporting - ICB

Best business practices should assist business to record and report all their income and expenses, including cash sales, cash expenses, and point of sale (POS) including drawings, cash drawer expenses, petty cash and cash payments journals. The ATO also require business records be kept over a certain periods depending on the type of record. EG; Payroll, deposit butts, bank statements etc.

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