You are appointed as Secretarial Officer of A Ltd., a BSE Listed company. Apart from the day to day secretarial work, you need to check & verify the purchase invoice and purchase order. Being an officer in that area,

To be able to determine the business's profitability it is important that you should record and retain details of expenses and purchases made by your business. Documents that contain such details include: Invoices received Credit card statements Receipts/counterfoils Cheque book counterfoils Cash vouchers Salary information Credit Documents Collectively, these will represent the sum total of monies expended by the business in the pursuit of its main activities. Retaining and filing this data shall lead to meaningful information on the expense patterns of the company which can then be used to make informed decisions by the business owners. This data is also useful in a tax context as it will form the basis for the justification of profitability figures as reflected by the business in its returns of income during scrutiny proceedings undertaken by the income tax department.