Design and Implementation of Record Keeping in Business Center

Description

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Abstract

Record Keeping is the process of collecting, inputting, storing, classifying, summarizing and interpreting data.

Record keeping has two facets – financial record keeping and managerial record keeping. The basic purpose of financial record is to assist decision makers in evaluating the financial strength,

profitability and future prospects of a business. Managerial record keeping in contrast is tailored to the needs of a particular company.

It helps the executives to measure success in carrying out their plans, to identify problems requiring executive attention and to attain company objectives. The purpose of record keeping is to produce financial statement about a business entity.

Therefore in this study, we narrowed down to the record keeping system as been practiced by the business centre of Caritas University Enugu.

Introduction

Business centre of Caritas University is to an extent manually operated. The recording of sales of tickets and cash received are done manually in a book, which looks/appears rough.

Thus, the books or files are exposed to physical damage by ants and pests, accumulation of dust particles; this makes the contents to be lost, misplaced or even altered.

The long queue of students waiting to be attended to, on daily basis, the fatigue, time wasting in daily reports of accounts to the management can be reduced or even eliminated with the introduction of the proposed system.

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