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What is Bookkeeping? Definition & Meaning Sage Advice US

Colloquially referred to as “keeping the books,” the process typically involves regulated and systematized parameters for reporting. However, a more general bookkeeping definition included any process—regardless of the level of sophistication—of recording financial transactions. As a partial check that the posting process was done definition of bookkeeper correctly, a working document called an unadjusted trial balance is created. Others, like payroll, can be outsourced to independent companies that specialize in the task. Their work plays an important role in the operation [...]