Question: What Are The Categories Of Records?

What are the four categories of record values?

The four categories that are used to classify the value of a record are: Vital records : legal papers, titles.

Important records : sales records, tax records, contacts.

Useful records : emails, letters, memos..

What are the five typical stages in a record keeping system?

These five easy steps will help you create a simple financial record-keeping system: capture, check, record, review, and act.Capture the Information.Check to Make Sure the Information Is Complete and Correct.Record the Information to Save It.Consolidate and Review the Information.Act Based on What You Know.More items…

What records need to be kept?

To be on the safe side, McBride says to keep all tax records for at least seven years. Keep forever. Records such as birth and death certificates, marriage licenses, divorce decrees, Social Security cards, and military discharge papers should be kept indefinitely.

What records should be kept?

How long should you keep important documents?Store permanently: tax returns, major financial records. … Store 3–7 years: supporting tax documentation. … Store 1 year: regular statements, pay stubs. … Keep for 1 month: utility bills, deposits and withdrawal records. … Safeguard your information. … Guard your financial accounts. … Properly dispose of paper documents.

How do you record information accurately?

Principles of Good Record KeepingBe factual, consistent and accurate;Be updated as soon as possible after any recordable event;Provide current information on the care and condition of the patient;Be documented clearly in such a way that the text cannot be erased;More items…•

What is the meaning of records?

noun rec·ord [rek-erd] an act of recording. the state of being recorded, as in writing. … something on which sound or images have been recorded for subsequent reproduction, as a grooved disk that is played on a phonograph or an optical disk for recording sound (audio disc ) or images (videodisc ).

What are useful records?

Useful Records are Official Copies of: Bank Records. Correspondence. Equipment Maintenance/Service Reports. Registrar’s Statistical Reports – Copies.

What are the types of records?

Some of the most significant record types are:Property records – title deeds and settlements.Accounting papers – including rentals, vouchers, surveys and valuations.Legal papers.Inventories.Correspondence.Enclosure papers.Manorial papers – court rolls, custumals, terriers, surveys etc.Personal and political papers.More items…

What are six of the types of records your company is likely to need?

What are six of the types of records your company is likely to need? What are debts, assets, and equity? Assets are things your company owns that are worth money, such as cash, equipment, vehicles, materials, inventory, and real estate.

What are the five source documents?

Examples of source documents, and their related business transactions that appear in the financial records, are:Bank statement. … Cash register tape. … Credit card receipt. … Lockbox check images. … Packing slip. … Sales order. … Supplier invoice. … Time card.

What are the 5 basic filing systems?

Five basic filing steps are: Conditioning, Releasing, Indexing and Coding sorting. 1. Conditioning; Removing all pins, brads, and paper clips; Stapling related papers together; Attaching clippings or items smaller than page-size to a regular sheet of paper with rubber cement or tape. 2.

What are the 3 types of values?

The Three Types of Values Students Should ExploreCharacter Values. Character values are the universal values that you need to exist as a good human being. … Work Values. Work values are values that help you find what you want in a job and give you job satisfaction. … Personal Values.