The need for Codification is :

The correct option is: Easy to process data, keeping proper records

Codification is the systematic process of assigning unique identification symbols (such as numbers, alphabets, or alphanumeric codes) to various data elements, items, or accounts within an organization. The primary objective and need for codification is to streamline data management and organization.

Here is a step-by-step breakdown of why this option is correct:
1. Simplifies Data Processing: Raw data can be massive and unstructured. By assigning concise codes to complex descriptions, data processing systems (computers and databases) can search, sort, filter, and retrieve information much faster and with fewer computational resources.
2. Enables Systematic Record-Keeping: Codification establishes a standardized structure. This prevents duplicate entries, reduces human errors during manual entry, and ensures that records are maintained in a logical, consistent, and easily accessible format.
3. Improves Efficiency: Instead of writing long names or descriptions (e.g., "15mm Stainless Steel Grade 304 Bolt"), a simple code can represent the item, saving time and space in invoices, inventory ledgers, and reports.

Let us look at why other options are less appropriate:
- Encryption of data is a security measure used to protect sensitive data from unauthorized access, not for organizing data.
- Generation of mnemonic codes is just a sub-method of codification rather than the primary reason or overall need for it.
- Securing accounts and reports is primarily handled by access controls, encryption, and physical security measures, rather than codification itself.