Definitions for bookkeepingˈbʊkˌki pɪŋ
This page provides all possible meanings and translations of the word bookkeeping
Random House Webster's College Dictionary
the occupation of keeping detailed records of a company's transactions, esp. its purchases and sales.
Origin of bookkeeping:
the activity of recording business transactions
Kernerman English Learner's Dictionary
the process of recording and calculating financial information; = accounting
to do the bookkeeping for the business
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.
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