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.

There are different types of bookkeeping methods available, and choosing the right one for your business can be a challenging task. In this article, we will discuss the three primary bookkeeping methods: single- entry bookkeeping, double-entry bookkeeping, and computerized bookkeeping.

Bookkeeping is definitely tedious since the bookkeeper needs to manage financial information both in digital and physical platforms, but the job becomes much more difficult if the person-in-charge is not cultivating healthy habits that allow them and their team to keep things organized.

While bookkeeping is all about recording of financial transactions, accounting deals with the interpretation, analysis, classification, reporting and summarization of the financial data of a business.