Get to Know the Types of Bookkeeping – Every company’s bookkeeping system is different. Bookkeeping is made based on company size. Whether it is a small or large company. Structured bookkeeping is one of the appropriate accounting books, where you can monitor the development of your company.

Below we will inform you about the types of bookkeeping.

What is Bookkeeping?

A recording activity that aims to collect all information and data related to financial reports.

Types of Bookkeeping

1. Bookkeeping of incoming and outgoing money

A type of bookkeeping that contains information on cash receipts and disbursements in a company over a certain period of time.

The function of bookkeeping is to provide information related to money coming in and out of the company.

2. Bookkeeping in and out of stock

This bookkeeper manages finances and inventory accounts by recording every transaction and investment. This process keeps a record of every financial movement made in the inventory.

From purchasing stock to organizing it, then from order management. Everything is recorded to ensure the current financial position of the inventory is known.

3. Fixed asset Bookkeeping

Fixed assets is the process of capitalizing purchase costs, allocating costs over the useful life of the asset through depreciation, testing fixed assets for impairment, and removing fixed assets from the books upon disposal.

4. Transaction journal Bookkeeping

A type of accounting bookkeeping that is also fairly simple is transaction journal bookkeeping. This bookkeeping can be owned by companies whether large or small scale because it is very necessary to make it easier to record how sales transactions are carried out. This bookkeeping covers various transaction or payment processes carried out by consumers, both by debit and credit.

5. Financial bookkeeping

Financial bookkeeping is what keeps track of all the company’s financial transactions. It refers to bookkeeping by classifying, analyzing, summarizing, as well as recording financial transactions such as purchases, sales, accounts payable and receivables, and finally preparing financial reports.

Bookkeeping methods in accounting

1. Single Bookkeeping

The single entry method is a system for recording financial transactions that is only done once. What is recorded in this method is only a list of transactions that affect the cash account.

The single entry method is usually used by small businesses. This single input system has similar properties to a checking account. There is no specific grouping for each expense and income item.

2. Double Bookkeeping

Double Bookkeeping is a different method system from the previous method, this double bookkeeping system is more often used by large scale companies.

This method is considered better than the single method. Double Bookkeeping provides a special account for every financial transaction that occurs in the accountant and the accountant must record it in a journal with two different sides, namely the debit side and the credit side. So it is easier for accountants and companies to monitor complex financial flows.

Function of Bookkeeping?

1. Recording Transactions
2. Tracking Cash Flow
3. Making financial reporting
4. Tax and Legal Compliance
5. Financial Analysis

Conclusion

All types of bookkeeping that have been explained above must be owned by a company.

So what are you waiting for? If you need outsourcing services for your company’s bookkeeping, you can contact us, Indoservice.

Indoservice offers bookkeeping outsourcing services centered on businesses in Indonesia. At Indoservice, we have a dedicated team of professionals who will work with the needs of a good accounting & bookkeeping system for your business. You can count on us to provide the quality of service that best suits your needs.

By using our services, you can rest assured that your bookkeeping records are always up to date and follow the latest local accounting regulations. Manage your account easily with the help of a trusted accounting service from Indoservice.

Contact us at email: admin@indoservice.co.id or Call/Whatsapp +62877-1449-8500 to get special offers & special prices from us.