Bookkeeping



What is Bookkeeping?
The simple definition of bookkeeping is that – “it is the practice involved in the recording of transactions affecting the operation of a business”.  Bookkeeping involves a system which records the transactions occurring in a business on a day to day basis, and the information recorded in this manner makes up the bookkeeping records. 

These records enable the business owner or managers to assess the performance of the business, prepare its financial statements and product other reports and data which will allow the business owner or the accountant/advisor to give advice or make recommendations where the business can improve its operation and its profitability.


Importance of Bookkeeping
Putting in a bookkeeping system is one of the most important tasks you have to do as a new business owner.  You will probably need the services of a qualified accountant, or someone with experience in accounting, so you can ensure the system incorporated will adequately serve the purpose of providing good information that...

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