Statement - Safekeeping Records

Question 1

What is a way to Backup Journal and Ledgers?

Answer 1

Can be kept in a fireproof vault or in a secure office

Question 2

What is a way to back up Accounting Records on a computer system?

Answer 2

all important files backed up each night and kept in a fireproof vault or taken off site by a designated employee

Question 3

What is a way to back up all records that cannot be replaced easily in the case of a fire

Answer 3

Insurance to cover the loss and replacement of such records.

Question 4

What is a way to back up Handling of cash by employees and transporting cash to bank.

Answer 4

Bonding of employees and insurance to cover loss or theft of cash.

Question 5

What is a way to back up way of Recording of all bookkeeping records.

Answer 5

Regular holidays taken by all employees, so that another employee can check the work of an employee during holiday periods.