Finance & Moneybeginner
Bookkeeping
Definition
The systematic recording of all financial transactions in your business, income, expenses, invoices, and receipts, usually in accounting software.
Why it matters
Clean bookkeeping makes tax returns accurate, surfaces profitability by product or channel, and gives your accountant the clean data they need to advise you properly.
Example
Every week, you log into Xero or QuickBooks, match bank transactions to categories, and upload receipts. At tax time, your accountant can file in hours rather than days.
Related terms
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