Bookkeeping

Bookkeeping is the process of recording and organizing a business's financial transactions. This includes tracking income, expenses, sales, and payments to ensure accurate financial records. Bookkeepers use ledgers or accounting software to maintain these records, which helps businesses monitor their financial health, prepare for taxes, and make informed decisions. Accurate bookkeeping is essential for understanding cash flow and profitability, and it serves as the foundation for financial reporting, which is often used by accountants to create financial statements. Overall, bookkeeping is crucial for effective management and compliance in any business.