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Bookkeeping: meaning, definitions and examples

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bookkeeping

[ˈbʊkˌkiːpɪŋ ]

Definitions

^{Context #1 | Noun}

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. Sarah is in charge of bookkeeping for our small business Good bookkeeping helps avoid financial errors
accounting	Used in broader contexts that involve not only recording financial transactions but also interpreting, classifying, analyzing, reporting, and summarizing financial data. Jane studied accounting in college Effective accounting can provide insights into a company's financial health
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. Accurate record-keeping is important in a laboratory setting Schools depend on detailed record-keeping to track student progress

Word

Description / Examples

bookkeeping

Used when referring to the routine process of recording financial transactions in a business.

Sarah is in charge of bookkeeping for our small business
Good bookkeeping helps avoid financial errors

accounting

Used in broader contexts that involve not only recording financial transactions but also interpreting, classifying, analyzing, reporting, and summarizing financial data.

Jane studied accounting in college
Effective accounting can provide insights into a company's financial health

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.

Accurate record-keeping is important in a laboratory setting
Schools depend on detailed record-keeping to track student progress

Examples of usage

The company hired a professional accountant to handle the bookkeeping.
She took a course to improve her bookkeeping skills.

^{Context #2 | Noun}

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. The company hired a new clerk to handle bookkeeping tasks Effective bookkeeping is essential for maintaining accurate financial records
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. Proper record-keeping is vital for legal and tax purposes Schools have strict record-keeping policies for academic and administrative purposes
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. Financial tracking helps you understand where your money goes each month Small businesses can use software for financial tracking to stay on budget

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.

The company hired a new clerk to handle bookkeeping tasks
Effective bookkeeping is essential for maintaining accurate financial records

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.

Proper record-keeping is vital for legal and tax purposes
Schools have strict record-keeping policies for academic and administrative purposes

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.

Financial tracking helps you understand where your money goes each month
Small businesses can use software for financial tracking to stay on budget

Examples of usage

Effective bookkeeping is essential for the success of any business.
The bookkeeping of the company was meticulous and accurate.

Translations

Translations of the word "bookkeeping" in other languages:

🇵🇹 contabilidade

🇮🇳 लेखाकर्म

🇩🇪 Buchhaltung

🇮🇩 pembukuan

🇺🇦 бухгалтерія

🇵🇱 księgowość

🇯🇵 簿記 (ぼき)

🇫🇷 comptabilité

🇪🇸 contabilidad

🇹🇷 muhasebe

🇰🇷 부기 (부기)

🇸🇦 محاسبة

🇨🇿 účetnictví

🇸🇰 účtovníctvo

🇨🇳 簿记 (bùjì)

🇸🇮 knjigovodstvo

🇮🇸 bókhald

🇰🇿 бухгалтерлік есеп

🇬🇪 ბუღალტრული აღრიცხვა

🇦🇿 mühasibat

🇲🇽 contabilidad

Etymology

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.