Why Bookkeeping is Important to your Business What is Bookkeeping Bookkeeping is the process of recording and classifying financial transactions in a systematic manner to maintain an accurate and up-to-date record of a company’s financial activities. It involves recording all financial transactions in a company’s books of accounts, such as journal entries, invoices, receipts, and […]

What is Bookkeeping? What is Bookkeeping? Bookkeeping is the process of recording your company’s financial transactions into organized accounts on a daily basis. Which is also essential part of your accounting process for keeping transaction records updated, generate accurate financial reports that help measure business performance. These business activities are recorded based on the company’s […]

Cash Accounting vs Accrual Accounting Accrual accounting is the preferred method of recording transactions because it provides a more accurate representation of what actually happened during the period being reported. Cash accounting, on the other hand, records only those transactions that were completed during the reporting period. Your accounting system will affect several things. For […]

Accounting and Bookkeeping In-house vs Outsourced Bookkeeping and accounting are two functions which are extremely important for every business organization. In the simplest of terms, bookkeeping is responsible for the recording of financial transactions whereas accounting is responsible for interpreting, classifying, analyzing, reporting, and summarizing the financial data. Bookkeeping and accounting may appear to be […]