Bookkeeping
BOOKKEEPING
Bookkeeping in the context of a business is simply the recording of financial transactions. Transactions include purchases, sales, receipts and payments by an individual or organization. Many individuals mistakenly consider bookkeeping and accounting to be the same thing. This confusion is understandable because the accounting process includes the bookkeeping function, but is just one part of the accounting process. The accountant creates reports from the recorded financial transactions recorded by the bookkeeper and files forms with government agencies. There are some common methods of bookkeeping such as the single-entry bookkeeping systemand the double-entry bookkeeping system. But while these systems may be seen as "real" bookkeeping, any process that involves the recording of financial transactions is a bookkeeping process.Bookkeeping is usually performed by a bookkeeper. A bookkeeper (or book-keeper), also known as an accounting clerk or accounting technician, is a person who records the day-to-day financial transactions of an organization. A bookkeeper is usually responsible for writing the "daybooks". The daybooks consist of purchases, sales, receipts, and payments. The bookkeeper is responsible for ensuring all transactions are recorded in the correct day book, suppliers ledger, customer ledger and general ledger.The bookkeeper brings the books to the trial balance stage. An accountant may prepare the income statement and balance sheetusing the trial balance and ledgers prepared by the bookkeeper.
OBJECTIVES
• Show permanent record of business .
• To know profit or loss of business .
• To know know the financial position of business.
• Providing the information of total sale and purchase of business.
• Supplies the information of creditors and debtors of business.
• Get knowledge of quantity and Value of stock .
• To determine the amount of Tax liabilities ( both income tax and sale tax )
• To provide the information to
Bookkeeping in the context of a business is simply the recording of financial transactions. Transactions include purchases, sales, receipts and payments by an individual or organization. Many individuals mistakenly consider bookkeeping and accounting to be the same thing. This confusion is understandable because the accounting process includes the bookkeeping function, but is just one part of the accounting process. The accountant creates reports from the recorded financial transactions recorded by the bookkeeper and files forms with government agencies. There are some common methods of bookkeeping such as the single-entry bookkeeping systemand the double-entry bookkeeping system. But while these systems may be seen as "real" bookkeeping, any process that involves the recording of financial transactions is a bookkeeping process.Bookkeeping is usually performed by a bookkeeper. A bookkeeper (or book-keeper), also known as an accounting clerk or accounting technician, is a person who records the day-to-day financial transactions of an organization. A bookkeeper is usually responsible for writing the "daybooks". The daybooks consist of purchases, sales, receipts, and payments. The bookkeeper is responsible for ensuring all transactions are recorded in the correct day book, suppliers ledger, customer ledger and general ledger.The bookkeeper brings the books to the trial balance stage. An accountant may prepare the income statement and balance sheetusing the trial balance and ledgers prepared by the bookkeeper.
OBJECTIVES
• Show permanent record of business .
• To know profit or loss of business .
• To know know the financial position of business.
• Providing the information of total sale and purchase of business.
• Supplies the information of creditors and debtors of business.
• Get knowledge of quantity and Value of stock .
• To determine the amount of Tax liabilities ( both income tax and sale tax )
• To provide the information to