Tag: Bookkeeping

  • Double-entry bookkeeping system

    Double-entry bookkeeping system

    The Double Entry Bookkeeping system is scientific, perfect, and a complete method of recording business information in the books of accounts. Generally, in every business transaction, we find two accounts, out of which one account is given debit effect and another account is given credit effect. In other words, in this system for every debit, […]

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  • What is bookkeeping?

    What is bookkeeping?

    Bookkeeping is a systematic method of keeping and maintaining a record of day to day business transactions in words and figures in the books of accounts so as to show clearly and correctly the financial position of a business. Thus bookkeeping involves the following actions: To record summarized and systematic financial business transactions in the […]

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