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Bookkeeping is the task of recording and organizing the vast number of detailed financial transactions produced by a company's daily business activities. Most bookkeeping systems are computerized these days although there are still some manual systems around.
The double entry system involving debits and credits is the industry accepted standard for bookkeepers. In a healthy set of books, every debit has a corresponding credit and vice a versa. If not, the books are said to be out of balance and may require an audit to correct them.
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