What is bookkeeping and why is it important?
As a small business owner, it can be challenging to stay on top of your books while successfully running and growing your business. As you hire employees and gain more customers, tracking business expenses and making sure they’re accurate becomes more complex and time-consuming. What exactly is bookkeeping? Bookkeeping is the process of recording the financial transactions of your business in a consistent way that organizes your sales, purchases, payments, and receipts. The financial data recorded in the bookkeeping process is then used in accounting to produce financial reports that measure the health of your business. In other words, bookkeeping tracks transactions...
July 14, 2022
0