Bookkeeping involves tracking financial transactions, ensuring accuracy, and maintaining records. Here are the basics:

1. Income & Expenses – Record all earnings (sales, interest, etc.) and expenses (rent, utilities, payroll).
2. Receivables & Payables – Track money owed to you (invoices) and money you owe (bills).
3. Bank Reconciliation – Regularly match records with bank statements.
4. Chart of Accounts – Categorize transactions (assets, liabilities, equity, income, expenses).
5. Financial Reports – Generate income statements, balance sheets, and cash flow statements.