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Bookkeeping - Meaning, Definition & English Examples

Bookkeeping is the systematic recording of financial transactions for a business. It ensures accurate tracking of income, expenses, and overall financial health. Essential for accounting and decision-making.

bookkeeping

/ˈbʊkˌkipɪŋ/ /ˈbʊkˌkiːpɪŋ/

Definition:

The systematic recording of financial transactions in a business or organization.

Synonyms:

accounting, record-keeping, auditing

Part of Speech:

noun

Antonyms:

disorganization, negligence

Common Collocations:

double-entry bookkeeping, accurate bookkeeping, financial bookkeeping, small business bookkeeping

Derivatives:

bookkeeper, bookkept (rare)

Usage Tips:

Ensure consistency in recording transactions to maintain accurate financial records.

Common Phrases:

cook the books, by the book, balance the books

Etymology:

Derived from "book" (record) + "keeping" (maintaining), dating to the 15th century for financial record-keeping.

Examples:

  • 1. She handles all the bookkeeping for her small business.
  • 2. Accurate bookkeeping is essential for tax purposes.
  • 3. He learned double-entry bookkeeping in his accounting class.
  • 4. The company hired a professional for their bookkeeping needs.

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