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What is Bookkeeping?

Bookkeeping is the recording process of a company's financial transactions into specified accounts on a daily basis. Bookkeeping is a most important part of your business organization.

With proper bookkeeping, companies are able to track all information on their books to make key operating, investing, and financing decisions. When companies keep transaction records updated, they can generate accurate financial reports that help measure business performance. A detailed recording process will also be handy in the event of a tax audit.