Methods of Adelaide bookkeeping

Adelaide bookkeeping, we all know about the bookkeeping process. Bookkeeping is the process of recording all the transactions occurring in the business. There are two types of bookkeeping that can be conducted by the business. First is single-entry, it usually followed by the small firms and second is double-entry, it is usually conducted by the big firms. After these, there are two types of methods of bookkeeping.

  • Manual bookkeeping
  • Computerized bookkeeping

These are the two types of bookkeeping, giving a look through

  • Manual bookkeeping– manual bookkeeping is the old technique of recording transactions. It is the paper based technique. This technique transaction is recorded manually by using their hand and preparing accounts such as journal books and ledger books. This is still used by the small business which has less complex transactions. It is also preferred as it’s cheap and easy to maintain.
  • Computerized bookkeeping– This bookkeeping is the latest and innovative way of recording transactions. Much software has been developed, through which maintaining the transactions have been easier and faster. Small business does not use a computerized software as it expensive than a manual system and also doesn’t have any knowledge of the using such software. However, still, most of the business prefers to use computerized bookkeeping as it’s convenient and reliable.

Thus if a person has a good education of the accounting software or running the big business should prefer to use computerized bookkeeping or else should go for the manual bookkeeping as cheaper and easier to maintain.

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