the activity of recording business transactions
Accounting: the skill or practice of keeping books or systematic records of financial transactions, e.g. income and expenses.
the art of recording pecuniary or business transactions in a regular and systematic manner, so as to show their relation to each other, and the state of the business in which they occur; the art of keeping accounts. The books commonly used are a daybook, cashbook, journal, and ledger. See Daybook, Cashbook, Journal, and Ledger
Bookkeeping in the context of a business is simply the recording of financial transactions. Transactions include purchases, sales, receipts and payments by an individual or organization. Many individuals mistakenly consider bookkeeping and accounting to be the same thing. This confusion is understandable because the accounting process includes the bookkeeping function, but is just one part of the accounting process. The accountant creates reports from the recorded financial transactions recorded by the bookkeeper and files forms with government agencies. There are some common methods of bookkeeping such as the single-entry bookkeeping system and the double-entry bookkeeping system. But while these systems may be seen as "real" bookkeeping, any process that involves the recording of financial transactions is a bookkeeping process. Bookkeeping is usually performed by a bookkeeper. A bookkeeper, also known as an accounting clerk or accounting technician, is a person who records the day-to-day financial transactions of an organization. A bookkeeper is usually responsible for writing the "daybooks". The daybooks consist of purchases, sales, receipts, and payments. The bookkeeper is responsible for ensuring all transactions are recorded in the correct day book, suppliers ledger, customer ledger and general ledger.
The numerical value of bookkeeping in Chaldean Numerology is: 2
The numerical value of bookkeeping in Pythagorean Numerology is: 2
Sample Sentences & Example Usage
We can now begin the process of improving basic bookkeeping in the territory and end the opacity and lack of transparency in their finances.
Having retired from the accounting profession and the computer enhancement industry, [I know] there is a shortage of qualified people to perform bookkeeping-computer work and that the wages and flexible time schedules can be very attractive for part-timers.In many instances the work can be performed at home for those who have computers and prefer being in a quiet environment.
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Translations for bookkeeping
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