41 Account -- Filing

what are the needs and importance of filing?

what are the needs and importance of filing?

the following are the needs and importance of filing:

  1. Filing protects documents from possible damages caused by dirt, dust, fire etc.

  2. It provides the necessary information to different parties like customers, government, debtors, etc.

  3. It guides to perform works in the same way how they used to be performed in past.

  4. It provides necessary information for making correct decision over the problems.

  5. It helps to settle misunderstanding and disputes created between parties because evidential proof can be provided by it.

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