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  • Writer's pictureBrian R. Schobel, CPA

What is a Bookkeeper? from Brian Schobel, Spotsylvania CPA

Bookkeeping - the only word in the English language with three consecutive doubles

Definition of Bookkeeping

Bookkeeping includes the recording, storing and retrieving of financial transactions for a business, non profit, individual, etc.

Examples of Bookkeeping Tasks

Typical financial transactions and tasks that are involved in bookkeeping include:

· Billing for goods sold or services provided to clients

· Recording receipts from customers

· Verifying and recording invoices received from suppliers

· Paying suppliers

· Processing employees' pay and the related governmental reports

· Monitoring individual accounts receivable

· Recording depreciation and other adjusting entries

· Providing financial reports

Today bookkeeping is done with the use of computer software. For example, QuickBooks (from Intuit) is a low-cost bookkeeping and accounting software package that is widely used by small businesses in the U.S.

Bookkeeping requires knowledge of debits and credits and a basic understanding of financial accounting, which includes the balance sheet and income statement.

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