record keeping

Definition of "record keeping"
  1. The process of documenting business financial transactions, including income and payment of expenses
How to use "record keeping" in a sentence
  1. Accurate record keeping is essential for a successful business to track its financial health.
  2. Her restaurant had a detailed and thorough system for record keeping.
  3. Due to their poor record keeping, the small business was unable to account for all its expenses.

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