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.

References in periodicals archive ?
"They need to have proper book keeping - unlike the "off the record" ways, because penalties are high with VAT.
Vautro, A New System of Book Keeping; Calculated to Promote the Neccessary Reform of the Old Methods, by Following the Means Particularly Recommended by the Best English Authors, London: Printed for the Author; and Sold by S.
Within six months she had successfully taken courses which included a typing, ECDL and SAGE accounts and book keeping. She was thrilled when she received her results having achieved distinctions in both her accounts and book keeping exams.
The enterprise agency provides three basic services: counselling for the unemployed--including such basics as how to write a CV--and for those in jobs who want to set up their own small enterprises; business skills training--from book keeping and VAT returns to marketing and computers--leading to National Vocational Qualification (NVQ) certificates; and support, including capital loans, to get `micro-businesses', of one to 25 employees, up and running.
Learn about essential business skills such as marketing, cash flow forecasting, profit and loss forecasting, book keeping and business planning, as well as finding out how things like legal status, VAT, and National Insurance will affect your business.
TWO Black Country bosses have been handed fines and costs totalling pounds 700 after failing in their book keeping duties at their separate businesses.