Bookkeeping Meaning: Definition, Examples, and Translations
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bookkeeping
[ˈbʊkˌkiːpɪŋ ]
Definitions
financial records
The activity or occupation of keeping records of the financial affairs of a business.
Synonyms
accounting, record-keeping.
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| bookkeeping |
Used when referring to the routine process of recording financial transactions in a business.
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| accounting |
Used in broader contexts that involve not only recording financial transactions but also interpreting, classifying, analyzing, reporting, and summarizing financial data.
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| record-keeping |
A more general term that can be used outside of financial contexts, referring to the act of maintaining records, files, or any kind of documented information.
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Examples of usage
- The company hired a professional accountant to handle the bookkeeping.
- She took a course to improve her bookkeeping skills.
detailed organization
The detailed and systematic recording of business transactions.
Synonyms
financial tracking, record-keeping.
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| bookkeeping |
Typically used in business contexts to describe the detailed recording of financial transactions for a company or organization. It can cover tasks such as recording sales, receipts, purchases, and payments.
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| record-keeping |
A general term that can apply to both financial and non-financial contexts. It means maintaining organized records or documents of various types of information, not limited to financial data.
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| financial tracking |
Used in broader contexts to refer to the monitoring and analysis of financial data over time. This can include tracking expenses, income, and financial goals for both individuals and businesses.
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Examples of usage
- Effective bookkeeping is essential for the success of any business.
- The bookkeeping of the company was meticulous and accurate.
Translations
To see the translation, please select a language from the options available.
Interesting Facts
History
- The invention of double-entry bookkeeping in the 14th century by Italian mathematician Luca Pacioli revolutionized finance.
- Bookkeeping practices trace back to ancient civilizations, including Mesopotamia, which used clay tablets to record transactions.
Modern Practices
- Today, bookkeeping can be done using various software, allowing for faster, more accurate financial management.
- The rise of cloud technology has made online bookkeeping accessible and convenient for small businesses.
Cultural Impact
- Film and literature often depict bookkeepers as meticulous and detail-oriented, emphasizing the importance of accuracy in finance.
- In many cultures, the role of a bookkeeper is seen as foundational for any business's success, symbolizing financial responsibility.
Psychology
- Studying bookkeeping can improve logical thinking and organization skills, both useful in other life aspects.
- People often feel more secure when they know their finances are well-kept, leading to reduced stress.
Origin of 'bookkeeping'
Main points about word origin
- The term 'bookkeeping' dates back to the 15th century, when accounting was done by hand in physical books.
- The word comes from 'book', referring to the records kept, and 'keeping', denoting the act of maintaining these records.
The word 'bookkeeping' originated from the term 'bookkeeper' which dates back to the 16th century. It combines 'book' (referring to financial records) and 'keep' (to maintain). Bookkeeping has been essential for businesses since the advent of commerce, evolving from manual ledgers to digital accounting systems.
See also: book, bookcase, booked, bookie, booking, bookish, bookkeeper, booklet, bookmaker, bookrack, bookrest, books, bookshelf, bookshop, bookstand, bookstore, bookworm, ultrabook.