The process of accurately recording and organizing all financial transactions of a business, including income, expenses, and payments. It provides a clear picture of your business's financial performance, helps you analyze trends, and enables informed decision-making regarding investments, expansions, or cost-cutting measures
Bookkeeping refers to the systematic process of recording, organizing, and managing financial transactions and records of a small business, including sales, purchases, expenses, and receipts, to accurately track and monitor the financial health of the business and facilitate accurate financial reporting and decision-making. It is a critical aspect of business management and enables small business owners to maintain proper financial records and comply with tax regulations.