The Importance Of Minute Books To An Organisation

Corporate books are permanent officially bound pages that keep track of all important organizational documentation and meetings. They enable an organization to act as a registered and recognized institution, although it is not mandatory to have one it is recommended for various reasons. There are several versions of minute books this books but the two main ones are the premiums and deluxe versions.

The content that is contained include shares of stocks of a company, compensation and retirement payments, dividends payments to the shareholders, corporate articles, bylaws made by the managers, shareholders names and important details, minutes of meetings proceedings, information about company directors and vital transactions.

The book is divided into several sections.It may contain sections on minutes of meetings, yearly profits of the organisations, a record of any dealings with the government, share owners agreements, transfer of shares register, corporate article and original shareholders agreement.

From time in memorial they have been handwritten and numbered to show exactly when the entries were made. The reason for sequentially numbering them is because they become more secure and reduce false entries. This also avoids the removal of important documents from it. Ensure that all the information kept is up to date. This resolution should be kept for a minimum of seven years.

Change in technology has had a great impact on other issues of a firm but hardly on the way they keep their documents and original certificates. Typing and printing of minutes to be attached to the corporate book has gained popularity but they must be certified before being stored.

To show the credibility of the company ensure that the leaves are not loose and they hold signatories that are credible. It is advisable to seek help from experts who assist major corporate with their record keeping.

The recordings are maintained by the organizations secretary who from time to time makes new entries to ensure it is up to date. It should be stored at a location central to the corporation, most preferable the headquarters or main office. This allows for accessibility of it from whomever that wants to refer to it for critical information.

Keeping the records ensures that managers have an easy time managing the operations and transactions of the firm as they follow the written rules.It keeps track of all taxes paid to the government and is proof of paid dues.They provide security of vital information. A backup system used by auditors.It is a proof of business dealings and can be used in a court of law by court attorney.Business lawyers find them an important tool when they are in need to represent the firm.Company image to the legal forum is improved and the general public interested in the operations have more faith in it.

The people that may keep a keen interest on the recordings are prospective investors and suppliers, industrial court and company lawyers and advisers, its share owners, directors, auditors, financial accountants, employees and managers, government officers and finally banking institutions.

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