Purpose of financial records
- Created by: sarp2004!
- Created on: 01-02-20 08:54
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- Purpose of financial Records
- To track goods that have been returned as damaged or faulty, replaced or a refund given
- To maintain an accurate record of customers and suppliers for future business and marketing
- To track whether goods have been delivered
- To aid management decisions
- To check that invoices have been paid and to chase any that are outstanding
- To determine how much tax is owed by the enterprise
- To provide information for financial statements
- To calculate costs, revenues profit or loss
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