It's all too easy to pay too much tax, miscalculate your figures, or inadvertently leave out important information if you haven't received proper training. Miscalculating your obligations can even end up hitting you in the pocket hard.

Bookkeeping fraud (also referred to as accounting fraud) refers to types of fraud committed by officers, accountants, and other employees that manipulate company finances and records to achieve some kind of personal gain.

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.