Financial Transaction Recording Task

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A Financial Transaction Recording Task is an transaction recording task that requires recording of financial transactions.



References

2015

  • (Wikipedia, 2015) ⇒ http://en.wikipedia.org/wiki/Bookkeeping Retrieved:2015-7-7.
    • Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business.[1] Transactions include purchases, sales, receipts and payments by an individual or organization. There are some common methods of bookkeeping such as the single-entry bookkeeping system and the double-entry bookkeeping system. But while these systems may be seen as "real" bookkeeping, any process that involves the recording of financial transactions is a bookkeeping process.

      Bookkeeping is usually performed by a bookkeeper. A bookkeeper (or book-keeper), is a person who records the day-to-day financial transactions of an organization. A bookkeeper is usually responsible for writing the "daybooks". The daybooks consist of purchases, sales, receipts, and payments. The bookkeeper is responsible for ensuring all transactions are recorded in the correct day book, suppliers ledger, customer ledger and general ledger. An accountant can then create reports from the recorded financial transactions recorded by the bookkeeper.

      The bookkeeper brings the books to the trial balance stage. An accountant may prepare the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper.

  1. Weygandt; Kieso; Kimmel (2003). Financial Accounting. Susan Elbe. p. 6. ISBN 0-471-07241-9.

2014