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Question on keeping your tax records

Discussion in 'Accounting, Tax & Legal' started by taxstar, 10th Nov, 2007.

  1. taxstar

    taxstar Active Member

    Joined:
    9th Nov, 2007
    Posts:
    25
    Location:
    Sydney, NSW
    Hi Eveyone

    It seems like there are a regular people interested in accounting and tax.

    Can I ask what system people are using to keep thier tax information if you have property, managed funds and shares, and some employment information?

    Are you using a software program like MYOB or Quicken to record your information before you give it to your accountant?

    How are you keeping your paper documents? In folders that you create yourself, or the much loved "shoebox"?

    Thanks

    Warren
     
  2. islandgirl

    islandgirl Well-Known Member

    Joined:
    18th Sep, 2006
    Posts:
    118
    Location:
    Middle of beautiful Moreton Bay, Qld
    Morning
    I use MYOB only because I was using it when I was running a small home business and so just carried it forward for my property investing. MYOB and like minded programs are really only good for those people who have a understanding of accounting and ledger entries. Otherwise it is way to easy to stuff it up.

    I know a lot of people here use spreadsheets. If I didn't already have an accounting program I guess that is what I would be using too for ease.
     
  3. taxstar

    taxstar Active Member

    Joined:
    9th Nov, 2007
    Posts:
    25
    Location:
    Sydney, NSW
    Hi Islandgirl

    Thanks for your reply. I know several people in your same position. I am working on a system to help people that don't to use accounting systems like MYOB, but still want a system to help them keep organised for income tax and capital gains tax.

    Would you be interested in helping me review my system? If so, please send me an email and I can send you more details and a copy of what I have designed.

    Thanks

    Warren
     
  4. islandgirl

    islandgirl Well-Known Member

    Joined:
    18th Sep, 2006
    Posts:
    118
    Location:
    Middle of beautiful Moreton Bay, Qld
    I'm a little time poor...OK majorly time poor but I'll help where I can. Be happy to. I'll email you