Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business. Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation.
Bookkeeping is crucial to managing finances in your business. When you hire a bookkeeper, you are guaranteed to keep track of your money spent and earned. They manage the day to day finances of your business and essentially keep you on track with your financial plan.