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Comprehensive Recordkeeping Practices for Business Transactions in Technology Era

Discover the essential tools and methods for accurately recording and managing business transactions to prepare financial statements. Learn about journals, ledger entries, scorecards, banking records, payroll data, tax records, and more.

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Comprehensive Recordkeeping Practices for Business Transactions in Technology Era

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  1. Business Technology Mr. Bernstein Greene, pp 253-260 Recordkeeping for Businesses December 11, 2013

  2. Business TechnologyMr. Bernstein Recording Transactions Businesses use these tools to build accurate data for use in Financial Statements: Journals record all transactions Sales Cash Payments Cash Receipts Purchases General

  3. Business TechnologyMr. Bernstein Recording Transactions Businesses use these tools to build accurate data for use in Financial Statements: Journal entries are posted into Ledgers: Scorecards for various “Accounts” such as Cash, Sales, Rent, Utilities…or Accounts Payable, Accounts Receivable…or for various vendors, etc.

  4. Business TechnologyMr. Bernstein Banking Records Keep your check register balanced Reconcile your ledger with the bank statement Other Records Payroll records Tax Records

  5. Business TechnologyMr. Bernstein Payroll Data

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