![]() ![]() Assets: Anything of value in your business is considered an asset.There are five bookkeeping accounts you should know and understand: Bookkeeping basics: The accounts you should know A bookkeeper records all of the financial transactions for a business, while an accountant’s job is to interpret and analyze the data recorded by the bookkeeper. ![]() While the job of bookkeeper may appear similar (or the same) as an accountant, they are only similar on the surface. However, for the novice, the introduction of bookkeeping-specific vocabulary and the rules that govern proper bookkeeping processes can be overwhelming. Any transaction with financial implications needs to be recorded by a bookkeeper. Simply put, bookkeeping is the recording of a business’s financial transactions.
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