Purpose of financial records

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  • 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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