What is Bookkeeping? Understanding the Basics of Financial Record-Keeping

What is Bookkeeping

Bookkeeping is the systematic recording and organizing of financial transactions in a company. It is a fundamental process that supports a company’s accounting system. Through bookkeeping, financial data is accurately recorded in journals, ledgers, and accounts. This is crucial for preparing key financial statements such as income statements, balance sheets, and cash flow statements. A … Read more