Bookkeeping

Bookkeeping is the process of recording your company’s financial transactions into organized accounts on a daily basis. It can also refer to the different recording techniques businesses can use. 

These are some typical bookkeeping tasks:

• Recording financial transactions
• Posting debits and credits
• Producing invoices
• Managing payroll
• Maintaining and balancing ledgers, accounts, and subsidiaries

Importance of Bookkeeping

Proper bookkeeping gives companies a reliable measure of their performance. It also provides information to make general strategic decisions and a benchmark for its revenue and income goals. In short, once a business is up and running, spending extra time and money on maintaining proper records is critical.