Cheat Sheet / Updated 04-17-2023
There are several steps to understanding bookkeeping and maintaining a good record of your business’s finances throughout the year. It’s advantageous to get your head around the trickier bits of keeping the books and to know the process in order to better check and control those incomings and outgoings.Double-entry bookkeepingIn double-entry bookkeeping you enter all transactions in the books twice: once as a debit and once as a credit.