What do you meant by book keeping?
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Bookkeeping involves the recording, storing and retrieving of financial transactions for a company, nonprofit organization, individual, etc.
Common financial transactions and tasks that are involved in bookkeeping include:
Billing for goods sold or services provided to clients.
Recording receipts from customers.
Verifying and recording invoices from suppliers.
Paying suppliers.
Processing employees' pay and the related governmental reports.
Monitoring individual accounts receivable.
Recording depreciation and other adjusting entries.
Providing financial reports.
Today bookkeeping is done with the use of computer software.
Bookkeeping requires knowledge of debits and credits and a basic understanding of financial accounting, which includes the balance sheet and income statement.
Common financial transactions and tasks that are involved in bookkeeping include:
Billing for goods sold or services provided to clients.
Recording receipts from customers.
Verifying and recording invoices from suppliers.
Paying suppliers.
Processing employees' pay and the related governmental reports.
Monitoring individual accounts receivable.
Recording depreciation and other adjusting entries.
Providing financial reports.
Today bookkeeping is done with the use of computer software.
Bookkeeping requires knowledge of debits and credits and a basic understanding of financial accounting, which includes the balance sheet and income statement.
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