Not all records are equal. There are four types of records: official records, transitory records, non-records, and personal records. Some records are kept for a short amount of time, and some records have long retention periods.
There are two main types of records management systems: electronic record-keeping systems, and paper record-keeping systems. Paper records management involves employees who work as records managers to manually fill out and find information on documents.
You need to keep most records for five years, starting from when you prepared or obtained the records, or completed the transactions (or acts they relate to), whichever is the later. You need to be able to show the ATO your records if they ask for them.
save records electronically (if possible) keep evidence of all transactions. take pictures of your receipts to avoid faded records. retain all business records including income, expenses and bank records. keep your business records separate to your personal records.
There are three basic ways of storing files: lateral, vertical and stacking. Lateral filing is done in four‐drawer filing cabinets, with the files held upright on their long narrow edge, often within a 'hanging folder'.
There are various manual (filing cabinets) and electronic (computer-aided and online) ways to record, store and retrieve information.
This process is known as the lifecycle of a record, made up of four stages: create, maintain, store, and dispose of. Weirdly, the lifecycle of a record actually holds similarities with that of a biological organism: It is born = Creation. It lives = Maintain and Store.
Records can be divided into two categories: 1) Official, and 2) Transitory/Convenience. "Official records" are: records having the legally recognized and judicially enforceable quality of establishing some fact, policy, or institutional position or decision.
Such classifications assist in functions such as creation, organization, storage, retrieval, movement, and destruction of records.
However, we can make some kind of classification of recording as Process recording, Summary recording, Verbatim recording, and Non- Verbatim recording.
Recordkeeping is the method of keeping track of business transactions and activities either manually or digitally. Common records that a business should keep include correspondence, accounting, employee, and progress records, and more.
The 8 Principles are: Accountability, Transparency, Integrity, Protection, Compliance, Accessibility, Retention and Disposition. These are the “Principles” of good management of Records.
You need good records to monitor the progress of your business. Records can show whether your business is improving, which items are selling, or what changes you need to make. Good records can increase the likelihood of business success.
The 5S methodology is a workplace organization system that aims to improve efficiency and eliminate waste by maintaining a clean and organized work environment. The 5S's stand for Sort, Set in order, Shine, Standardize, and Sustain.
What are the functions and uses of records? A record contains information that is made, produced, executed, or received in connection with transactional office activities, and supports an organization in conducting its business.
Record custodians maintain, secure, and care for records in accordance with company guidelines. This individual is the manager of a unit assigned to the role by the record proprietor. In some cases the record proprietor and record custodian may be the same person, and there could actually be more than one custodian.
Examples of the records that may be managed include paper documents, audio and video recordings, emails, and instant message logs. By engaging in records management, a business will experience smoother business processes that are not delayed by missing documents.
Paper records are stored in physical boxes or file cabinets on premises or at a storage facility. Electronic records are stored on storage media in-house, off site or in the cloud. Records management is key component of any information governance plan.
Sort, Set in order, Shine, Standardize, Sustain or Self Discipline, Safety and Spirit. Each phase continuously improves the performance of an organization by eliminating wastages of searching, waiting, transportation, motion, work in progress inventory etc.
Records management includes planning, controlling, directing, organizing, training, promoting, and additional managerial activities involved with respect to records creation, maintenance, use, and disposition.