Bookkeeping

#Bookkeeping is the process of recording financial transactions in a company's books. The transactions are recorded in chronological order, which makes it easy to track the company's financial activities. The bookkeeping process includes recording, classifying, and summarizing the financial transactions of a company.

The #bookkeeping process begins with recording the financial transactions in a journal. The journal is a chronological record of the financial transactions that take place in a company. The transactions are then classified in the ledger, which is a system of accounts that organizes the #financial information of a company. The ledger contains all the information about a company's assets, liabilities, and equity. The information in the ledger is used to prepare #financial statements.

The bookkeeping process is important because it provides #financial information that is used to make decisions about a company's operations. The information in the financial statements can be used to assess a company's financial health, make #investment decisions, and plan for the future.