Book Keeping

INTRODUCTION TO BOOK-KEEPING What is book keeping? Book keeping is the name used to describe the recording of cash and credit transactions so that information relating to the transactions may be easily obtained. Book-keeping is an important activity which is performed by an individual, business or other organisation.   It can also be defined as the act of systematically keeping records of all financial transactions in a chronological order.[xyz-ihs snippet=”Google-Adsense”] Book-keeping is usually performed by a book keeper who ensured that all transaction are recorded in the correct day book, supplier ledger, customer ledger and general ledger. The methods of recording the transactions are strictly based on accounting principles.   Importance of book-keeping It enhances the proper running of the financial affairs of a business or person. Book keeping will help a business man or women to monitor and manage cash flow that is identify where there is over-spending and… Read More »INTRODUCTION TO BOOK-KEEPING