What is book keeping?

[niyati]

Can anyone help me knowing more about book keeping

 

[Gsusangrey]

Bookkeeping is the systematic recording of an organization's financial transactions. It involves maintaining accurate and organized records of all money coming in and going out, forming the foundation for financial reporting and analysis.

 

[charlie]

Bookkeeping is financial management of recording financial transactions of a business. It requires monitoring of all the money that enters and leaves a business and making sure of precision and classification of records concerning money. Accountants apply this information to design financial reports and offer strategic direction.

 

[daisyfrank]

Bookkeeping is the process of recording and organizing a business's financial transactions, such as sales, expenses, and payments, on a regular basis. It's essential for tracking financial health and preparing accurate reports.

 

[maria]

Bookkeeping is the systematic process of recording, organizing, and tracking all financial transactions of a business. This includes recording sales, purchases, payments, and receipts to maintain accurate and up-to-date financial records.

 

[Jarwish]

Bookkeeping is the act of listing, sorting and storing finance transactions of a company or an individual. It means monitoring by recording incoming, outgoing, assets, and debts in an orderly manner, typically by use of ledgers or accounting programs. Bookkeeping keeps an organization financially intact, assists with budgeting and decision-making. It also gives key information in regard to preparation of financial statements and tax returns. Effective bookkeeping is important in providing transparency to the finance of the company, compliance with the law and health of the company.