COMMON PRACTICES IN

BUSINESS ORGANIZATION
BOOKKEEPING REPORTORIAL
REQUIREMENT
DOCUMENTTATION
BOOKKEEPING IS THE RECORDING OF
FINANCIAL TRANSACTIONS, AND IS
PART OF THE PROCESS OF
ACCOUNTING IN BUSINESS.
TRANSACTIONS INCLUDE PURCHASES,
SALES, RECEIPTS, AND PAYMENTS BY
AN INDIVIDUAL PERSON OR AN
ORGANIZATION/CORPORATION.
•DAILY TASK
•WEEKLY TASK
•MONTHLY TASK
REPORTORIAL
REQUIREMENT
• WE MUST COMPLY WITH THE
MONTHLY, QUARTERLY AND
YEARLY STATUTORY
COMPLIANCE OF THESE
GOVERNMENT BODIES.
DOCUMENTATION
GOOD DOCUMENTATION PRACTICES
• SUPERSEDED DOCUMENTS SHOULD BE RETAINED FOR A
SPECIFIC PERIOD OF TIME.
• RECORDS SHOULD BE COMPLETED AT TIME OF ACTIVITY OR
WHEN ANY ACTION IS TAKEN .
• RECORDS SHOULD BE RETAINED FOR AT LEAST ONE YEAR
AFTER THE EXPIRY DATE OF THE FINISHED PRODUCT.
• CONCISE, LEGIBLE, ACCURATE AND TRACEABLE.
• PICTURE IS WORTH A THOUSAND WORDS.
• CLEAR EXAMPLES.
• DON’T ASSUME KNOWLEDGE.
ASSESSMENT
HOW DOES BOOKKEEPING,
REPORTORIAL REQUIREMENTS
AND DOCUMENTATION HELPS
BUSINESSES?