For example, bookkeeping involves functions such as posting transactions and producing reports like the balance sheet and the cash flow statement.
For example, an insurance company needs to keep records on tens or hundreds of thousands of policies, print and mail bills, and receive and post payments.
Data analysis uses specialized algorithms and statistical calculations that are less often observed in a typical general business environment.
For data analysis, software suites like SPSS or SAS, or their free counterparts such as DAP, gretl, or PSPP are often used.
These tools are usually helpful for processing various huge data sets, as they are able to handle enormous amount of statistical analysis.
Monthly the data recorded in the register is reconciled with a hopefully identical list of transactions processed by the bank.
A more sophisticated record keeping system might further identify the transactions— for example deposits by source or checks by type, such as charitable contributions.