Book-keeping, in business, is the recording of financial transactions, and is part of the process of accounting.
Transactions include purchases, sales, receipts and payments by an individual or organization. The accountant creates reports from the recorded financial transactions recorded by the book-keeper and files forms with government agencies
There are some common methods of book-keeping such as the single-entry bookkeeping system and the double-entry book-keeping system. But while these systems may be seen as “real” book-keeping, any process that involves the recording of financial transactions is a book-keeping process.
Book-keeping is usually performed by a book-keeper. A book-keeper is a person who records the day-to-day financial transactions of an organization and is usually responsible for writing the daybooks.
The daybooks consist of purchases, sales, receipts, and payments. The bookkeeper is responsible for ensuring all transactions are recorded in the correct day book, suppliers ledger, customer ledger and general ledger.
At IAIS we provide a complete book-keeping service to individuals and businesses and we will be pleased to quote for your specific requirements.