There are generally three kinds of source documents that you need keep: Income records, expense records and property records.
For income records, it should indicate the date, amount, source of income and the original documents are as following:
- sales invoices
- cash register tapes
- receipts
- bank deposit slips
- fee statements
- contracts
Your expense records should indicate the following:
- Purchase date
- Supplier’s name and address
- Purchaser’s name and address
- A detailed descriptions of Product or services
- If the vendor is a registrant of GST ，the invoice should show the business number.
Property records: either purchasing or selling a property, you should keep the property transaction date, , the transaction amount and the names of transaction parties and contracts if any.
