bookkeeper

(noun)

A person responsible for keeping records or documents, such as of a business.

Related Terms

  • journal
  • journal entry

Examples of bookkeeper in the following topics:

  • Inputs to Accounting

    • In accounting, the two bookkeeping methods are the single-entry and double-entry bookkeeping systems.
    • Bookkeeping is the recording of financial transactions.
    • Bookkeeping is usually performed by a bookkeeper.
    • There are some common methods of bookkeeping such as the single-entry bookkeeping system and the double-entry bookkeeping system.
    • The bookkeeper brings the books to the trial balance stage.
  • Defining Accounting

    • One important breakthrough took place around that time: the introduction of double-entry bookkeeping, which is defined as any bookkeeping system in which there was a debit and credit entry for each transaction, or for which the majority of transactions were intended to be of this form.
    • The earliest extant evidence of full double-entry bookkeeping is the Farolfi ledger of 1299-1300.
    • It represents the first known printed treatise on bookkeeping; and it is widely believed to be the forerunner of modern bookkeeping practice.
    • Although Luca Pacioli did not invent double-entry bookkeeping, his 27-page treatise on bookkeeping contained the first known published work on that topic, and is said to have laid the foundation for double-entry bookkeeping as it is practiced today.
    • The invention of a form of bookkeeping using clay tokens represented a huge cognitive leap for mankind.
  • Types of Transactions

    • In double-entry bookkeeping, a sale of merchandise is recorded in the general journal as a debit to cash or accounts receivable and a credit to the sales account.
    • Fees for services are recorded separately from sales of merchandise, but the bookkeeping transactions for recording sales of services are similar to those for recording sales of tangible goods .
  • Debits and Credits

    • Credit and debit are the two fundamental aspects of every financial transaction in the double-entry bookkeeping system.
    • Debits and credits are at the heart of the double-entry bookkeeping system that has been the foundation stone on which the financial world's accounting system has been built for well over 500 years.
    • Debits and credits serve as the two balancing aspects of every financial transaction in double-entry bookkeeping.
  • The Trial Balance

    • The trial balance is usually prepared by a bookkeeper or accountant.
    • The bookkeeper/accountant used journals to record business transactions.
    • The trial balance is a part of the double-entry bookkeeping system and uses the classic 'T' account format for presenting values.
    • If debits do not equal credits then the accountant or bookkeeper must determine why.
  • Fundamental Accounting Equation

    • A double-entry bookkeeping system involves two different "columns;" debits on the left, credits on the right.
  • Reversing Entries

    • Reversing entries help prevent accountants and bookkeepers from double recording revenues or expenses.
  • Posting

    • Since accountants and bookkeepers often need to trace the origin of a ledger entry, they use cross-indexing.
  • Activities to Manage Receivables

  • Journalizing

    • The general journal is where double entry bookkeeping entries are recorded by debiting one or more accounts and crediting another one or more accounts with the same total amount.
Subjects
  • Accounting
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