Bookkeeping Basics

Bookkeeping is the process of recording financial transactions systematically. It is essential for businesses to maintain accurate financial records to ensure compliance with tax laws and to make informed financial decisions. A good bookkeeping system helps track income, expenses, and overall financial health.

Importance of Bookkeeping

Accurate bookkeeping allows businesses to understand their financial position, manage cash flow, and prepare for audits. It also aids in budgeting and forecasting future financial performance.