Section 3: Labour Relations and Record Keeping

Lesson 4: Reporting and Recording Transactions

Businesses usually deal with many transactions on a daily basis. They record sales that are made, write cheques to pay bills and salaries, prepare statements that show customers how much they owe, purchase supplies, provide receipts, attend to mail, and so on.

Surprisingly, many records kept by businesses are still processed manually. This is the case with regards to Twin Peaks Guest Ranch as its operation is still small enough to track its day-to-day business manually. It also uses a personal computer to assist it with some of its reporting and recording requirements. Many small businesses find these suitable for their needs. However, there is an increasing trend toward non-manual methods of storing information in computer databases. A business must weigh the cost associated with these methods with the benefits they expect to derive from their use.