Before you begin business in earnest, you'll need to develop a system of records management to handle your operations. A recordkeeping system is one which is able to create, maintain and produce accountable and usable records of its operations. This will incorporate all aspects of your business process, including:
- Sales
- Purchases
- Personnel
- Inventory control
- And more, depending on the type of business you operate.
Developing a system that works for your type of business requires you to identify the types of recordkeeping your business needs. This involves:
- Analyzing how business is performed, who performs it, and what procedures will exist;
- Identify the records your system will need to keep to meet regulatory requirements, your business needs and to meet any community or customer expectations that apply to your area of business;
- Develop a recordkeeping system that encompasses the functionality you need.
