The proper maintenance or methodical keeping of accounts book is known as book-keeping.

It is with the recognition of business transaction where book-keeping starts. Apart from being financial in nature, documentation is a must in these business transactions. For instance, an accounting transaction deals with the selling of commodities for money. It’s because, in business, the commodities are going out of it and the money is being received. This transaction makes sure that there is a reduction in commodities and increase in cash, thereby affecting an organization’s business finances.

A documented transaction proof is also present in the form of cash memo which are generally issued for sale. After an accounting transaction is identified by a book-keeper, he/she records it in the respected book of accounts.

As a proper definition, the art and science of distinguishing and systematically recording an accounting transaction in a correct book of account is known as book-keeping.

According to another definition stated by Prof. R.N. Carter, book-keeping is the proper recordings of business transaction details in the book of accounts whose result is monetary transfer. This is based on the art and science aspect of accounting.

It’s also related to maintenance of accounts books like cash book, ledger, journal, and any other subsidiary books.But is not related to disclosure of any other business result.


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