Bookkeeping is the process of recording your company's financial transactions into organized accounts on a daily basis. It can also refer to the different recording techniques businesses can use. Bookkeeping is an essential part of your accounting process for a few reasons.

Companies often hire bookkeepers to help them maintain financial records and accounting reports. Among other things, a bookkeeper will often do the following: Document and categorize transactions, including income and expenses. Manage a company's finances via business accounting software, such as QuickBooks or Xero.