Home » Accounting Dictionary » What is Recordkeeping?Definition: One of the main parts of accounting is recordkeeping or bookkeeping. Recordkeeping is the process of recording transactions and events in an accounting system. Since the principles of accounting rely on accurate and thorough records, record keeping is the foundation accounting.ExampleAn example of an accounting event would…
Often times, most business or company owners tend to ask what online advertising can do for them and their business or how they can advertise their businesses. This question on… Read More »9 Amazing Reasons to Advertise your Business
Today, we are going to take you through a step by step comprehensive guide on how to prepare a pineapple juice for commercial use. You are also encouraged to share… Read More »Comprehensive Guide on How to Prepare a Pineapple Juice
The double entry system signifies a way of recording all accounting transactions twice in the books of account. It means that a transaction will appear twice in the accounting books.This… Read More »Double Entry Book-Keeping Systems
In this article, we shall focus on Promotion objectives, Rules for Setting Workable Promotion Objectives, and benefits of promotion to the firm. Promotion Objectives Intelligent promotion management requires clearly stated… Read More »Promotion Objectives and Rules for Setting Workable Promotion Objectives
With reagrds to the amazing reasons why you must advertise your business, Some of the basic reasons and advantages why you must advertise your business products and services include the… Read More »Amazing Reasons Why You Must Advertise your Business
It is either you Advertise or remain unknown and that is the fate of anybody who wants to venture into any scale of business. You must advertise to get people… Read More »Reasons Why You Should Advertise Your Business
The three-column cash book is one of the subsidiary books of the account used to record cash and bank transactions in addition to discounts received any discounts allowed. This type… Read More »Subsidiary Books: Three Column and Petty Cash Books
Advertising can be one of the most vital aspects of a business. It is the most direct and important connection to the consumer. When consumers feel personally connected to an… Read More »Top 10 Reasons to Advertise Your Business
The following are tips gleaned from around the web followed by expert opinions and tips on business process mapping. Apply business process mapping to the right types of processes. Processes that reflect how decisions are made may not be the best processes to map because they are limited in steps, and may not offer the most…
Everyone talks about business processes, but there remains a lot of confusion regarding them. To provide some clarity, here is all the information you’ll need regarding what they are, and why your business needs to understand them.What is a business process?A business process is a series of steps performed by a group of stakeholders to…
Building a successful team is about more than finding a group of people with the right mix of professional skills. Over the course of interviewing over 500 leaders for Corner Office, I asked them all about the art of fostering a strong sense of teamwork. Their insights can help you lay the groundwork for a…
Soda ash is also known as Sodium carbonate, Na2CO3.10H2O. Sodium carbonate or soda ash is the organic compound that has this formula Na2CO3 and its various hydrates. All the shapes… Read More »What is Soda Ash and Its Uses
Promotion is a complex activity, to which most entrepreneurs are not attuned. However, you can begin to understand promotion by realizing that it is based on communication. Promotion is worthless… Read More »Nature, Role, and Importance of Promotion / Communication
The title of any real estate property determines how legit the property is to a large extend. It also guarantees the real estate investor that no issues may arise from… Read More »Top 7 Must-Have Real Estate Property Documents
In this article we are going to discuss what a towel hooks (Bathroom Towel Hooks) is what they are often used for, how they are used and where they are… Read More »Importance and Uses of Towel Hooks (Bathroom Towel Hooks)
Business is a regular process of earning a profit by satisfying consumer’s needs through the manufacturing of goods, reselling of products, providing services or carrying out all three together. It… Read More »Definition, Types and Importance of a Business
In every business comes a time when the stakeholders of the company seek supports or partnerships from other investors for a commission structure or a loan with interest. The Joint-Venture… Read More »How to Create Real Estate Wealth with the Joint-Venture Approach as an Investor
As a business owner that wants a business growth, you need to make crucial decisions on many issues that may have a significant impact on your business. These may include… Read More »5 Ways to Fuel your Business Growth through User Experience
A towel rack is a device or something used to hold a towel. Towers racks are used to hang towels after use so that air can pass over them freely.… Read More »The Importance and Uses of a Towel Rack
When it comes to your business growth here’s the deal, although user experience was once considered the realm of programmers and web designers, that’s now not the case. Very soon,… Read More »5 Ways How your Thinking Can Fuel your Business Growth
Most of the time, people often compare bath sheet vs bath towel and ask certain questions like what is a bath sheet vs bath towel (bath towel vs bath sheet),… Read More »The Difference Between a Bath Sheet Vs Bath Towel
These are books in which accounting transactions are first recorded before been posted to their various accounts in the ledger. Subsidiary books are also called books of prime entries or… Read More »The Types and Uses of Subsidiary Books in Accounting
The preparation of different books of accounts including the subsidiary books by an accountant relies on some known and widely accepted documents that are exchanged between two or more parties… Read More »Seven (7) Types and Uses of Source Documents