Bookkeeping Assignment Help
What is Bookkeeping?
Bookkeeping is a sub-part of the process of accounting. Bookkeeping involves the recording, storing and retrieving of data related to financial transactions for a company, NGO, individual etc. The book-keepers ensure that records of the financial transactions are recorded in an accurate and comprehensive manner. Their job is to keep the list updated.
Bookkeeping is a very parameter of business strategy because it provides the information to prepare the accounts. Thus, every single transaction has to be recorded in the database for recording the growth of the company.
Below are listed some of the common financial transactions and tasks involved in bookkeeping:
- Billing the goods and services provided to customers.
- Keeping in record the bills provided.
- Recording and verifying the invoice attained from the customers.
- Paying the suppliers.
- Recording the turnover- both positive and negative, of the company accurately.
- Processing the payment of the employees.
- Providing the financial report at the end of every financial year.
Why do students need help?
With the boom of computers, the traditional way of bookkeeping has been replaced by using definite computer software.
A student studying bookkeeping as a part of his business studies is expected to have ample knowledge about the credits and debit; complemented with a basic understanding of financial accounting.
Such a critical subject demands a lot from the students. The pressure of deadlines, huge piles of homework and a lack of interest towards the subject leads to the poor performance of the student in the respective subject.
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