Bookkeeping

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Bookkeeping

The process of systematically and methodically recording the financial accounts and transactions of an entity.

Double-entry bookkeeping is an accounting system that requires that for every financial transaction there must be a debit and a credit. When merchandise is sold for cost, there is a debit to cash and a credit to sales.

See: accounting, computation, registration
References in periodicals archive ?
The services of a physician or therapist tended to be provided by a consultant agreement, but inkind staffing was usually for fiscal manager or bookeeping services.
Other occupations with projected large job losses in the declining industries, but which will have even greater job gains in growing industries, include all other helpers, laborers, and material movers, hand; freight, stock, and material movers, hand; blue-collar worker supervisors; bookeeping, accounting, and auditing clerks; general office clerks; janitors and cleaners; general managers and top executives; sheet metal workers and duct installers; and gardeners and groundskeepers, except farm.
The formal nature of establishments in the ML-segment as compared to those in the SS-segment is directly perceived from the higher percentage of registration (ESTREG) and use of bookeeping records (ESTREC).