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Business Technology Mr. Bernstein Greene, pp 253-260 Recordkeeping for Businesses December 11, 2013.

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Presentation on theme: "Business Technology Mr. Bernstein Greene, pp 253-260 Recordkeeping for Businesses December 11, 2013."— Presentation transcript:

1 Business Technology Mr. Bernstein Greene, pp 253-260 Recordkeeping for Businesses December 11, 2013

2 Business Technology Mr. Bernstein Recording Transactions Businesses use these tools to build accurate data for use in Financial Statements: Journals record all transactions Sales Cash Payments Cash Receipts Purchases General 2

3 Business Technology Mr. Bernstein Recording Transactions Businesses use these tools to build accurate data for use in Financial Statements: Journal entries are posted into Ledgers: Scorecards for various “Accounts” such as Cash, Sales, Rent, Utilities…or Accounts Payable, Accounts Receivable…or for various vendors, etc. 3

4 Business Technology Mr. Bernstein Banking Records Keep your check register balanced Reconcile your ledger with the bank statement Other Records Payroll records Tax Records 4

5 Business Technology Mr. Bernstein Payroll Data 5

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