What Is Bookkeeping and Why Every Business Needs It
Running a business without proper bookkeeping is like driving without a dashboard. You may be moving forward, but you have no clear idea about your speed, fuel, or direction. Bookkeeping plays a critical role in maintaining financial discipline, ensuring accuracy, and helping businesses grow with confidence. At Power of Factorial Business Solutions , we help businesses in KR Puram, Bangalore maintain clear, compliant, and audit-ready financial records through professional bookkeeping services. Understanding Bookkeeping in Simple Terms Bookkeeping is the process of recording and organizing a business’s daily financial transactions. These transactions include sales, purchases, receipts, payments, and expenses. The goal of bookkeeping is to create a clear and accurate financial picture of the business at any given time. Proper bookkeeping ensures that financial records are systematic, updated, and reliable, forming the foundation for accounting, taxation, and financial planning. The ...