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.

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.

Bookkeepers help business owners manage their finances by documenting transactions, paying and issuing invoices, generating reports, and recording accurate financial data. Bookkeepers can also deliver reports on your business's financial standing.

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.