Bookkeeping is the day-to-day recording of financial transactions. It focuses on keeping accurate and organized records.

Typical bookkeeping tasks include:

• Recording sales and expenses
• Managing accounts receivable (money owed to you)
• Managing accounts payable (bills you owe)
• Reconciling bank and credit card statements
• Recording payroll transactions
• Keeping receipts and invoices organized
• Maintaining general ledgers and journals

Think of bookkeeping as collecting and organizing financial data.

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