Introduction to Bookkeeping & Accounting

In this course, you will be introduced to bookkeeping and accounting, learn the differences between the two disciplines, get familiar with general terms, the advantages and disadvantages of the single-entry system, and understand the basics of the double-entry system.  

Introduction to Bookkeeping

Bookkeeper and Bookkeeping

The part of accounting that is concerned with recording data is often known as bookkeeping. Until about one hundred years ago all accounting data was recorded in books, hence the term bookkeeping. 

Bookkeeping is the recording of financial transactions and is part of the process of accounting in business. Any process that involves the recording of financial transactions is a bookkeeping process. Bookkeeping is usually performed by a bookkeeper. 

A bookkeeper (or book-keeper) is a person who records the day-to-day financial transactions of a business. He or she is usually responsible for writing the daybooks, which contain records of purchases, sales, receipts, and payments. The bookkeeper is responsible for ensuring that all transactions whether it is cash transaction or credit transaction are recorded in the correct daybook, supplier's ledger, customer ledger, and general ledger; an accountant can then create reports from the information concerning the financial transactions recorded by the bookkeeper.

What answer describes a bookkeeper best?

  • A person which records transactions of a business.
  • A person which usually manages a business.
  • It is the process or recording of a financial transaction.
  • A person who creates reports concerning financial transactions.