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Book Keeping

Book Keeping

Bookkeeping is that the recording of economic transactions, and is a component of the method of accounting in business.[1] Transactions embrace purchases, sales, receipts, ANd payments by a personalperson or an organization/corporation. There square measure many customary ways of clerking, like the single entry system and therefore the double entry system, but, whereas they will be thought of as "real" clerking, any method that involves the recording of economic transactions could be a clerking method.

Bookkeeping is sometimes performed by a accountant. A accountant (or book-keeper) could be a one whorecords the every day monetary transactions of a business. they're sometimes chargeable for writing the daybooks, that contain records of purchases, sales, receipts, and payments. The accountant is chargeable for guaranteeing that every one group actions whether or not it's money group action or credit transaction square measure recorded within the correct daybook, supplier's ledger, client ledger, ANd general ledger; an comptroller will then produce reports from the data regarding the monetarytransactions recorded by the accountant.