Knowing the Bookkeeping Basics
Bookkeeping is the recording of financial transactions which include sales, purchases, income, receipts and payments by an individual or organization. Bookkeeping is usually performed by a bookkeeper. Bookkeepers perform all manner of record-keeping tasks. Bookkeepers also make entries with the financial effects into journals and accounts. Bookkeepers prepare reports at the end of specific period of time, such as daily, weekly, monthly, quarterly or annually.