Scroll Top
Reviewed by Vishnava | Updated on Aug 16, 2023
Definition of MOM ( Minutes of the meeting )
Minutes of the meeting are the notes that one takes throughout the course of the meeting recording what ensues in the meeting. It would include the key points discussed, the participants involved, the resolution arrived at etc.
Steps That Are Involved in Recording The MOM
The steps involved are as follows - Pre-planning – this step would involve deciding the agenda of the meeting at an earlier date, inviting all the relevant participants, designating a specific person to take notes during the meeting, deciding the mode of record making etc. The participants must walk into the meeting fully aware of what is to be discussed in the meeting and how best they can contribute to the same.- Record-taking – the person so designated might use the physical or electronic mode to take the minutes of the meeting. The discussions and deliberations have to be recorded with utmost clarity and accuracy. - Writing or transcribing the minutes – the meeting so recorded has to be converted into a readable, presentable format that can be easily understood on reading.- Sharing meeting minutes – the transcribed minutes have to be shared with all the participants and other relevant persons to keep them informed about the same. This can be shared electronically to save time and reach out to a wider number of recipients at once.- Filing or storage of minutes for referencing in the future – each successive meeting and the minutes of the same has to be meticulously recorded and kept in a specific order for referencing at a later date. These records may also come handy in legal proceedings and is valuable evidence in the court of law.
Contents of the MOM
Usually, the following contents are included in the MOM
- Date and time of the meeting;
- Names of attendees, as well as absent participants;
- Acceptance of, or amendments made to, the previous meeting’s minutes;
- Decisions made regarding each item on the agenda;
- Key takeaways of the meeting;
- Future course of action.
Some Aspects That Have to Be Kept in Mind While Writing MOM
- Ensure that the minutes is recorded when the matter is still fresh in one’s mind. Avoid delaying it.
- Revise the minutes to make it crisp and concise.
- Ensure that all the key points are recorded without fail. Omissions can be costly mistakes at a later date.
- Take the help of pre-existing templates in order to save on time.
Popular Topics
Latest Articles
CONTENTS
- Definition of MOM ( Minutes of the meeting )
- Steps That Are Involved in Recording The MOM
- Contents of the MOM
- Some Aspects That Have to Be Kept in Mind While Writing MOM
Products
Individuals
ClearServices
Resources & Guides
GST Resources
ITR Resources
Mutual Fund Resources
Tools
TRENDING MUTUAL FUNDS
ICICI Prudential Technology Fund Direct Plan Growth
Tata Digital India Fund Direct Growth
Axis Bluechip Fund Growth
ICICI Prudential Technology Fund Growth
Aditya Birla Sun Life Tax Relief 96 Growth
Aditya Birla Sun Life Digital India Fund Direct Plan Growth
Quant Tax Plan Growth Option Direct Plan
SBI Technology Opportunities Fund Direct Growth
Axis Long Term Equity Fund Growth
TOP AMCS
STOCK MARKETS
Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.
Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.
CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.
Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download Black by ClearTax App to file returns from your mobile phone.
Cleartax is a product by Defmacro Software Pvt. Ltd.
Company PolicyTerms of use
ISO 27001
Data Center
SSL Certified Site
128-bit encryption
As an expert in financial technology and tax compliance, it's evident that the article you provided discusses various solutions and services related to GST (Goods and Services Tax), accounting, and compliance. The content revolves around individual products, product suites, and consumer products offered by different companies in the financial technology sector.
Let's break down the key concepts mentioned in the article:
-
Individual Products:
- GSTG1-G9 filing ASP/GSP solution: This refers to a solution for filing GST returns (G1 to G9) provided by an Application Service Provider (ASP) or a GST Suvidha Provider (GSP).
- Accounts Payable: The process of managing and recording the company's financial obligations to vendors or suppliers.
- MaxITCOptimise ITC for profitability: This suggests a solution or service (MaxITC) aimed at optimizing Input Tax Credit (ITC) to enhance profitability.
- E-Invoicing & E-Way Bill: Involves electronic invoicing and generating E-Way Bills, likely to ensure compliance with tax regulations.
- Bulk invoicing within any ERP: A solution for generating invoices in bulk within an Enterprise Resource Planning (ERP) system.
- TDSe-TDS return filing solution: A solution for filing Tax Deducted at Source (TDS) returns electronically.
- Invoice Discounting: Refers to a financial strategy where a business can receive instant financing by selling its invoices to a third party at a discount.
- FinancingInstant working capital financing: Immediate financing solutions for working capital needs.
-
CimplyFive:
- Automated secretarial compliance: CimplyFive appears to offer automation tools for ensuring compliance with legal and secretarial requirements.
-
Product Suites:
- Clear Finance Cloud: A connected finance ecosystem for process automation, control, savings, and productivity.
- Clear Compliance Cloud: A suite for GST and direct tax compliance.
-
Consumer Products:
- ITR Filing: Involves filing Income Tax Returns, possibly through a user-friendly and quick process.
- Tax Consultant Services: Services for both personal tax and business compliances, including consulting with tax experts.
The article then shifts its focus to a different topic:
Minutes of the Meeting (MOM):
- Definition of MOM: Explains that minutes of the meeting are notes taken during a meeting, recording key points, participants, and resolutions.
- Steps in Recording MOM: Describes the pre-planning, record-taking, writing/transcribing, sharing, and filing/storage steps involved.
- Contents of MOM: Lists the usual contents, including date and time, names of attendees, decisions made, and future course of action.
- Tips for Writing MOM: Highlights the importance of recording minutes promptly, revising for clarity, and using templates for efficiency.
In conclusion, the article seamlessly combines information on financial technology solutions, compliance services, and the importance of effective meeting documentation. This integration suggests a holistic approach to business processes and regulatory adherence.
