What does "draft storage" refer to in transaction processing?

Draft storage refers to the practice of retaining sales drafts after they have been processed, allowing them to be referenced in the future. This is important for a number of reasons, including reconciliation, auditing, and potential dispute resolution. By keeping these records, businesses ensure that they can verify transactions, provide proof of sales, and address customer inquiries or issues that may arise long after the transaction has been completed.

The concept of draft storage is essential for maintaining accurate records and ensuring compliance with regulatory requirements. In addition, it facilitates better customer service by enabling businesses to access historical transaction data quickly when needed. This level of organization helps prevent losses and enhances operational efficiency in transaction processing.