Cashbook for small business book keeping

A cashbook can be a simple hand-written book, a spreadsheet or a computerised system. If you maintain your cashbook it will help you manage your finances, cash flow, account systems and tax returns.

A cashbook records:
  • money paid into your account (how much and where from)
  • money paid from your account (how much, to whom and what for)
  • monthly and annual totals for specific items
  • monthly and annual totals for all income and expenses
  • current bank balance

Cashbook tips

  • start each month on a new page or spreadsheet
  • make sure you have enough columns (at least 16 in a manual cashbook)
  • record cheque numbers (for easy bank reconciliation)
  • set up separate columns for GST paid and received
  • enter payments, fees and other items from your bank statement each month
  • at the end of each month, add all the columns up and make sure the total of the “income” columns equals “receipts”, and the total of the “expenditure” columns equals “payments”
  • the opening balance of your bank statement, plus income, less expenditure or any unpresented items should equal your closing statement balance as at that date.
Download a completed example and related notes.

For more information please visit the ATO website.