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The Purpose of Keeping Accurate Records

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The purpose of keeping accurate records You may be asked at any time how much you have spent or brought in your household over the past year. You may have an estimate on how well you are managing your paycheques but is it accurate enough. Many people may keep receipts of what has been purchased, which may be accurate enough to the general household. ...read more.


Information for Stakeholders - If information of the firm is promising then the stakeholders can invest, promote, or continue buying products from the same firm. Financial Documents - These documents include the final statements of productivity i.e. Balance Sheet. When a sale is made by a business, they either expect payment to be made immediately or later, a credit or cash sale. ...read more.


It is vital that a receipt is obtained; this is to show that a purchase has been made to the retailer, and for the business to record how much it has spent on stationary, as it is an expense. Receipts have to main forms: Printed Written The printed version is sometimes called the till receipt, it has the following details: The retailer's name, Address Date & Time Sales representative Goods Purchased Total Due Cash given Slogan or Public realtions message Advice VAT registration number. The above outlined is the average layout of a till reciept each can have many variations ...read more.

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