Keeping a Record Book
Keeping a record book is very important. It is essential not only for your business but also for your life in general. First of all, let us see what the critical steps to be followed are:
Writing a Goal – The first entry in your record book should be why are you maintaining a record book, what is your aim what the work you are going to pursue it?
Next comes HOW are you going to achieve what you want to. What will be the method you will employ? While writing about this, use confident and positive words Will do this; Will go to such and such a person, will visit such and such a person or place. In short, your whole modus operandi at least what you have thought about, this will help you the most in future because whenever you refer to this page, you will be reminded that whether you are on the right path or whether you have strayed and needed to go back.
Once you have embarked on your work, keep a day to day list of your activities. What has been done, how far have you reached in your endeavour? What and how much remains? Whether you are on the right path or not? If possible put in as many photographs as possible this will not only boost your self-assessment it will also be a good reminder of things yet to be done and even the kind of progress being made if it is how you had planned or is there something lacking. Whether you are on target or lagging behind?
Apart from this, the most important benefit of keeping your record book is that it will be an official and authentic account of all activities regarding your business or whatever the endeavour.
In case of business, it will be a record of money spent; money received so that if ever the need arises you will be able to show the income tax department your expenditure and income thus clearing all if any doubts.
The record book can also be used as legal evidence if ever the need arises to clear you of any false allegations.
- Keep your accounts clean – separate business and personal expenses
- Get an invoice or receipt for everything you buy
- Check bank statements
Record your participation
Follow a set pattern of making entries do not let anything be haphazard otherwise the purpose of keeping a record book will be defeated.