Bookkeeping is the process of keeping track of all financial transactions made by a company. It allows businesses to identify areas of profit expansion and financial challenges early. Read on to find out how practising good bookkeeping techniques can help small business owners. Bookkeeping vs. Accounting Bookkeeping and accounting [...]
Most people use the terms bookkeeping and accountancy interchangeably. Even though both terminologies are important for businesses, there is a vast difference between the two. Bookkeeping is part of accounting and records all the daily cash and credit transactions in a systematic order. It includes all the sales, purchases, [...]
To fully understand what bookkeeping is, you need to know the principles of accounting. Bookkeeping deals with recording the daily financial transactions of a business entity. This includes all sales, purchases, receipts and payments that occur in a business. Businesses often enlist the services of a professional bookkeeper to [...]
