Professional Documents
Culture Documents
Entrep 2nd QTR Week 5 Bookkeeping
Entrep 2nd QTR Week 5 Bookkeeping
OBJECTIVES
A bookkeeper is an employee of
a small to the mid-size entity
that performs the processing
and recording of the day-to-day
financial operations of a
business.
After the bookkeeper records transactions, the
accountant or the business owner will review
the bookkeeper’s work and make the required
adjusting entries before the company's financial
statements are finalized.
The method of using debit and
credit to record a transaction is
called the double-entry
bookkeeping. This is invented
by the Father of Modern
Accounting Luca Pacioli in the
fourteenth century. This is the
bookkeeping system used up to
this day.
To understand the double-bookkeeping system here is an
example below: