Legal Definitions - record keeping

Record keeping

Record keeping refers to the practice of maintaining accurate and complete records of important information, such as financial transactions, employee data, and customer information. It involves creating, organizing, and storing records in a systematic and secure manner.

• Keeping track of sales and expenses in a ledger
• Maintaining employee records, such as attendance and performance evaluations
• Recording customer orders and contact information in a database

These examples illustrate how record keeping involves creating and organizing records in a way that makes them easy to access and use. By keeping accurate and complete records, individuals and organizations can make informed decisions, track progress, and ensure compliance with legal and regulatory requirements.