What Is Bookkeeping? - letsdiskuss
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What Is Bookkeeping?





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Bookkeeping is different from accounting in that it tracks the financial transactions for a business or individual, rather than the overall financial activity. It's often considered an automated process.

 

A bookkeeper accomplishes this by maintaining ledgers and journals, which adhere to industry standards such as double-entry accounting. This means that transactions are recorded twice in order to verify accuracy and provide verification that every transaction has been made correctly. The bookkeeper also records income and expenses into these ledgers and journals, which can then be used by accountants to evaluate the result of a specific action like a sale or purchase.

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student | Posted


The term Bookkeeping refers to the process of containing all the informations and records of the company's financial transactions. It is the process or business techniques of recording all the data and informations related to business account. It is the essential part of business accounting. Also, there are many types of bookkeeping named as Single entry bookkeeping, Double entry bookkeeping and cash based entry bookkeeping. The entries made in bookkeeping can be done easily with the help of journals, ledger, etc.

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