Bookkeeping is an essential part of accounting. It involves recording and classifying a business’s financial transactions in a usable form for reporting and analysis. Bookkeeping is the foundation of accounting, and it is essential to ensure that all bookkeeping information is accurate, complete, and up-to-date. What is Bookkeeping Bookkeeping is recording a company’s financial transactions into organised accounts daily. It includes recording all sales, purchases, receipts, and payments made by the business. Bookkeeping is used to track the company’s finances and can include a variety of recording methods. It is an essential part of the accounting process, providing the data needed for more detailed analysis and reporting of the business’s financial operations. Benefits of Bookkeeping The following are the Benefits of Bookkeeping: Detailed Recording: Bookkeeping help you to maintain detailed records. It enables you to get an accurate and comprehensive understanding of your ...