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bookkeeping

[bʊkˌkiːpɪŋ]

bookkeeping Definition

the activity or occupation of keeping records of the financial affairs of a business.

Using bookkeeping: Examples

Take a moment to familiarize yourself with how "bookkeeping" can be used in various situations through the following examples!

  • Example

    She is responsible for the bookkeeping of the company.

  • Example

    The bookkeeping department keeps track of all the financial transactions.

  • Example

    Good bookkeeping is essential for the success of any business.

bookkeeping Synonyms and Antonyms

Synonyms for bookkeeping

Phrases with bookkeeping

  • double-entry bookkeeping

    a method of bookkeeping in which each transaction is entered twice, once as a debit and once as a credit, to ensure accuracy and balance

    Example

    Double-entry bookkeeping is widely used in accounting.

  • single-entry bookkeeping

    a method of bookkeeping in which each transaction is entered only once, usually used by small businesses with few transactions

    Example

    Single-entry bookkeeping is simpler than double-entry bookkeeping.

  • computer programs designed to help individuals and businesses manage their financial records

    Example

    Many businesses use bookkeeping software to keep track of their finances.

Origins of bookkeeping

from 'book' + 'keep'

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Summary: bookkeeping in Brief

The term 'bookkeeping' [bʊkˌkiːpɪŋ] refers to the activity of recording financial transactions of a business. It is crucial for the success of any business and can be done through methods like double-entry or single-entry bookkeeping. Bookkeeping software is also available to assist in managing financial records.