Bookkeeping Articles from FINANCIOLOGY.COM Free Article Directory

Article Titles: Bookkeeping with QuickBooks Information, tips and advice from the largest repository of free financial and finance related articles.



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Bookkeeping is the recording of financial transactions. Transactions include sales, purchases, income, and payments by an individual or organization. Bookkeeping is usually performed by a bookkeeper. Bookkeeping should not be confused with accounting. The accounting process is usually performed by an accountant. The accountant creates reports from the recorded financial transactions recorded by the bookkeeper and files forms with government agencies. There are some common methods of bookkeeping such as the Single-entry bookkeeping system and the Double-entry bookkeeping system. But while these systems may be seen as "real" bookkeeping, any process that involves the recording of financial transactions is a bookkeeping process.

A bookkeeper (or book-keeper), also known as an accounting clerk or accounting technician, is a person who records the day-to-day financial transactions of an organization.[1] A bookkeeper is usually responsible for writing the "daybooks." The daybooks consist of purchase, sales, receipts, and payments. The bookkeeper is responsible for ensuring all transactions are recorded in the correct daybook, suppliers ledger, customer ledger, and general ledger. The bookkeeper brings the books to the trial balance stage. An accountant may prepare the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper

Two common bookkeeping systems used by businesses and other organizations are the single-entry bookkeeping system and the double-entry bookkeeping system. Single-entry bookkeeping uses only income and expense accounts, recorded primarily in a revenue and expense journal. Single-entry bookkeeping is adequate for many small businesses. Double-entry bookkeeping requires posting (recording) each transaction twice, using debits and credits.[2]

The primary bookkeeping record in single-entry bookkeeping is the cash book, which is similar to a checking (chequing) account register but allocates the income and expenses to various income and expense accounts. Separate account records are maintained for petty cash, accounts payable and receivable, and other relevant transactions such as inventory and travel expenses. These days, single entry bookkeeping can be done with DIY bookkeeping software to speed up manual calculations.

Bookkeeping Subcategories

Bookkeeping Articles

Bookkeeper Service - Top Things To Check
by Torontoaccounting Webmaster
May 08, 2010
When it comes to money and business, it is of utmost importance to be kept updated on the income and expenses so the entrepreneur knows if the business is still skyrocketing on profits or on bankruptcy. Since it is of the highest importance to make...

Australia QuickBooks Software
by Steele Rudd
Jul 31, 2009
Reckon is an Australian software company that creates applications and software products that allow organisations to fulfil all of their accounting related needs. The main advantage of using QuickBooks over other proprietary accounting software is th...

Bookkeeping with QuickBooks
by James Lee
Jun 14, 2009
Designed for small businesses, QuickBooks is a powerful and most commonly used small business accounting and management software in the US. It is used to track expenses, prepare and send invoices, prepare financial statements, track inventory levels,...

IMPORTANCE OF CASH CONTROL
by Leigh Ann
Apr 30, 2009
Cash is a vital component of any profit-generating organization. An organization's assets generate revenue, which in turn generates cash inflows. These cash inflows are used for several purposes: to pay creditors, compensate employees, reward shareho...

Online Bachelors degree, accredited bachelor's degree online, accredited online college
by Gurmeet Pahwa
Mar 23, 2009
Online degrees are of three types Associates degree, Bachelor’s degree and Masters Degree. The degrees we earn, whether bache...

Know all about Free Online Accounting Services
by geetha lakshmi
Feb 10, 2009
Free Online Accounting Services, Small business

Accounting is the process of identifying, measuring and communicating economic information so that a user of the information may make informed on economic judgments and decisions based on it. A...

Accounts Receivable: The Way to Increase Profits of Business
by James Lee
Jan 23, 2009
Accounts receivable is one of a sequence of accounting transactions dealing with the billing of clients who owe money to a person and organization for goods and services. This is typically done by creating an invoice, then mailing or delivering it to...

Online accounting - For convenient business monitoring
by Arvind Nath
Dec 30, 2008
Online accounting and bookkeeping has become a necessity for smooth functioning and convenient monitoring of any professional business. It is becoming popular now days among various industries, insurance, retail, pharmaceutical, banking and ot...

Outsourcing QuickBooks Bookkeeping - Achieve more for less with Books2Taxes.Com
by Amitaabh Saboo
Dec 22, 2007
Whether your business is small or huge, you need a good bookkeeping software in order to keep it running smoothly. Do not risk your sales by opting for an accounting and bookkeeping software which lets you down during a time when the customers keep o...

Outsource Tax Preparation Services to Books2Taxes.Com
by Amitaabh Saboo
Dec 22, 2007
When you want to have your tax return papers processed by overseas providers, there are several service providers you can choose from. One of the leading outsourcing company is Books2Taxes.Com, which offers tax preparation outsourcing assistance. If ...

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