Managing Financial Records:

                Records management or keeping safe for future use is a management skill which helps the individuals and companies secretarial and managerial staff to manage their official and financial records efficiently. Many times we need a file or any other important documents and we are trying hard to find that but due to our miss management, we are unable to find it that shows us how we are incapable or unable to perform in our managerial skills and abilities?

                There are many very easy ways to manage financial and professional records. We can use Microsoft Office Application software for this purpose. That helps us to manage our complete financial and important documents records at a single location. Microsoft Access, Excel, and documents can be used for this purpose. I prefer to use the Microsoft Excel for making a DBMS (Data base management) file for that purpose.

                Before going to start the financial record file making keep in mind these important questions. That helps you to manage you financial record management complete process.

·         What important information financial records you have?

·          What are your priorities? How you complete that Data Base Management file efficiently?

·         What kind of information you need to records in it? What kind of important fields and sub fields you need to show in those files?

·         How you can secure your data base file?

·          Where you need to keep it?

·          Who can use that file when some information you or they need?

The Answers to these important questions are as follows and that helps you to make a priority sheet for your data or information management.

Priorities your activity:

                Every activity always starts with an important objective. Here your objective to show more effectively and efficiently to manage your personal, business and professional financial records. That’s activity need complete attention to give the proper name to every section of data or information management.

According to the passage, we make different section of all the financial and non-financial information records and give a proper name to every section and then keep records in that section which is relevant to it and keep update the information after every visit. The data priorities sections can be named as like these Primary documents, important contact lists, Passwords and Login information, Insurance information, Bank Accounts information, Financing activities details, Liabilities details, Receivables information and lockers information.

Primary Documents:

Primary Documents contains all the information about the important documents we have which belongs to directly to us and we normally use them often for our daily basic operations. Primary documents details are as follows:

Important Contact lists:

All the important contact people’s information is contained in this list. According to the modern thinking, the contact information you have that is an asset for you.

Passwords and Logins Information:

IT is very important for our daily life. Now we have more than two web based accounts for many different purposes so it is difficult to keep remember every account password or login details. The Passwords and Logins can be kept safe as follows in financial data management file.

Insurance details:

We have two or more than two insurance policies for different purposes. The effective way to keep safe the insurance details is as follows:

Bank Accounts details:

Wealth or personal finance management is a very important topic of the modern world. The below passage shows us to manage the banks accounts information in a very efficient and effective way as shown as follows:

Investment Information:

                                                Personal investment information can be kept safe as follows:

Liabilities details:

Keeping safe the liabilities details is very important for every business. Because it links up with your good will in your professional life. Manage liabilities is also an important skill which everyone needs to know.

Receivables details:

Same like a liability the receivable is very important for business and that affects the revenue portion of our life.

Lockers details:

Important documents and jewelry always be kept in bank lockers and the lockers information and details always kept in secret and safe is very necessary for us.

That is the efficient Way to make a file in Microsoft excel and keep the records with proper location and its current updated information in a sufficient and efficient way. That can be more use full if the person or the responsible accounting clerks or secretarial work in charge make it more efficient and use full with their own abilities and managerial skills.

“Managing Financial Record is very helpful to every professional employees and individuals also to manage their financial transactions data in a very ethical and sufficient way. The Idea about the article is taken from the website page “ http://www.thewealthwisher.com/wp-content/uploads/2016/12/TW2-Financial-Document-Manager.xls.” Thankful to them for such a good effort from their side.”