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4.1.2
No proper documentation
In Mygyc Gym, there is no proper of documentation for the transactions occur.
The owner did records transactions, but sometimes there are a few items or
transactions havent been recorded. This is due to the owner have no
knowledge on accounting and they lack of expertise in handling the account. It
may give problem to calculate either the gym have reached breakeven or not
since the recording are not accurate.
4.1.3
5.0
5.0.1
5.0.2
Hired expertise
Since the owner has no any backgrounds in accounting, therefore he needs to
hire an expertise or accountant to keep and organize the account record. Apart
from that, proper filling is a must in a business. All the receipts and bills need
to be file in. Keeping the account safe and accurate is essential no overview
the financial performance of the business. Besides that, owner can make a
budget or planning strategies if the financial information is properly recorded.
5.0.3