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Home Posts tagged "online bookkeeping"

Tag: Online Bookkeeping

Online bookkeeping is the recording of financial transactions, and is part of the process of accounting in business. It is the only word in the English language with three consecutive groups of a repeating letter. Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation. There are several standard methods of bookkeeping, such as the single-entry bookkeeping system and the double-entry bookkeeping system, but, while they may be thought of as “real” bookkeeping, any process that involves the recording of financial transactions is a bookkeeping process.

Bookkeeping is usually performed by a bookkeeper. A bookkeeper (or book-keeper) is a person who records the day-to-day financial transactions of a business. He or she is usually responsible for writing the daybooks, which contain records of purchases, sales, receipts, and payments. The bookkeeper is responsible for ensuring that all transactions whether it is cash transaction or credit transaction are recorded in the correct daybook, supplier’s ledger, customer ledger, and general ledger; an accountant can then create reports from the information concerning the financial transactions recorded by the bookkeeper.

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.

Articles about "Online Bookkeeping"

Debt Collection

Debt Collection Management: Important Online Bookkeeping and Outsource Accounting Service

By Emy Bautista | Accounting, Outsource Accounting, Outsource Bookkeeping, Outsourcing | 2 December, 2016 |

Proper debt collection starts with good bookkeeping and proper accounting. Debt collection is an issue that most businesses, regardless of their level of success, have to deal with. One thing that separates a successful business from the rest is how they prevent debt from hurting their cash flow. Top-tier companies tie up with expert accountingExplore Now

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