Maintenance should include

• monitoring business performance by reviewing
• income/profit-loss statements
• cashflow statements
• equity statements/balance sheet
• setting up manual and electronic records management systems using numerical, chronological, and/or tickler filing systems
• indexing, coding, and filing manual and electronic financial records
• retrieving information from files
• recognizing the importance of accuracy, security, and compliance in financial recordkeeping.

Process/Skill Questions:

• Why is recordkeeping important?
• What skills are needed for recordkeeping?
• What are the differences between handwritten and computer-generated records?
• What are some software programs to assist in keeping accurate records?
• What would happen if a business failed to keep accurate records?