Bookkeeping Essay

May 5th, 2015
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Bookkeeping is an important aspect of any business. Bookkeeping can be defined as the practice of keeping the company’s books or records in an up-to-date and accurate manner (WiseGEEK, 2012). This allows the company to track in income and expenses of every day operations.

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Bookkeeping EssayBookkeeping EssaySarah Kloft Kaplan UniversityProfessor YancyJuly 17, 2012Bookkeeping EssayBookkeeping is an important aspect of any business. Bookkeeping can be defined as the practice of keeping the companys books or records in an up-to-date and accurate manner (WiseGEEK, 2012). This allows the company to track in income and expenses of every day operations. Although bookkeeping is time consuming, it is the most important part of the business (WiseGEEK, 2012). One type of bookkeeping is called a Peg-board system. This system consists of a metal or wooden type board with pegs down the left side and the necessary forms needed to run the business (Kinns 2007, p. 406.). These forms are an encounter form, receipt form, a ledger card and a journal entry card (Kinns 2007, p.406). The peg-board system is considered a fast and simple form of bookkeeping.

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