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Records life-cycle in records management refers to the stages of a record's life span from its creation to use, maintenance, preservation, and or disposal.

Records management means the planning, controlling, directing, organizing, training, promoting, and other managerial activities involved with respect to records creation, records maintenance and use, and records disposition in order to achieve adequate and proper documentation of the policies and transactions of the ...

The 8 Principles are: Accountability, Transparency, Integrity, Protection, Compliance, Accessibility, Retention and Disposition. These are the ?Principles? of good management of Records. ISO 15489: Records management is a globally recognized requirement.

Records management includes tasks like: Identifying, classifying and storing records. Establishing and enforcing policies, standards and guidelines. Assigning responsibilities and managers. Maintaining usability. Providing internal and external access. Integrating records management as part of daily operations.

Manual recordkeeping involves maintaining records by hand, using pen and paper, while digital recordkeeping involves using electronic tools such as spreadsheets, databases, or accounting software to keep records.

Procedure Identifying the transactions. Recording in the journal. Classifying the nature of the transaction. Posting to ledger. This becomes an important financial record for future reference. ... Balancing of accounts. Preparing a financial statement. ... Interpreting the financial statements. Communicating it to stakeholders.

Lifecycle of records Creation. This stage refers to the production of recorded or documented information. ... Use & Maintenance. After a record is created or collected, it goes through a distribution and usage phase. ... Storage. ... Destruction or Archive. ... Document Management. ... Digital Information Management. ... Secure Destruction.

This process is known as the lifecycle of a record, made up of four stages: create, maintain, store, and dispose of. Weirdly, the lifecycle of a record actually holds similarities with that of a biological organism: It is born = Creation.

Not all records are equal. There are four types of records: official records, transitory records, non-records, and personal records. Some records are kept for a short amount of time, and some records have long retention periods.

Maintenance of Records Review of Records Inventory. The first step in reviewing your department's records and the management of those records should be to identify the type of records being maintained, in what form (paper, electronic, etc.) ... Organization/Filing. ... Organizing Electronic Records.