ENTREP: Lesson 7.2

Good record keeping can help protect the business, measure the performance, and maximize profits.

• True

• False

These are the source documents, both physical and electronic, that specific transaction dates and amounts, legal agreements, and private customer and business details.

• Records

• Contracts

• Documents

Most businesses use an electronic record-keeping system to make it easier to capture information, generate reports, and meet tax and legal reporting requirements.

• True

• False

Copies of permits, registrations, and licenses of employees who need to do their jobs

• Employees accreditation certificates and licenses

• Performance reviews

• Customer records

• Customer complaints

Include assessments of staff performance and agreements between you and your employees.

• Employees accreditation certificates and licenses

• Performance reviews

• Customer records

• Customer complaints

Personal details, products purchased, and product inquiries that are useful for finding new customers.

• Employees accreditation certificates and licenses

• Performance reviews

• Customer records

• Customer complaints

Details of complaints about products, service, staff, or anything else, and steps taken to resolve them.

• Employees accreditation certificates and licenses

• Performance reviews

• Customer records

• Customer complaints

Including how you went about resolving disputes

• Details of any disputes with other businesses

• Quotes given and won

• Details of advertising campaigns and success

• Insurance policies

Specifics of jobs and time spent on them to help with future quoting.

• Details of any disputes with other businesses

• Quotes given and won

• Details of advertising campaigns and success

• Insurance policies

To make it easier to repeat advertisements and plan future advertising campaigns.

• Details of any disputes with other businesses

• Quotes given and won

• Details of advertising campaigns and success

• Insurance policies