Book-keeping & Financial Management

Book-keeping refers to the recoding of the transactions that your business undertakes. It is an essential part of what you do.
In the simplest form you will maintain a record of the following:
• Cash Transactions
• Bank Transactions
• The sales you have made
• The purchases you have made both for re-sell and business use (e.g. company car)
• The amounts you have received for your sales and the amounts owing to you
• The amounts you have paid for your purchases and the amounts owing by you
• The Salaries you have paid and the deductions from the salaries you have paid and owe.
Financial management is the process by which you control the finances (Cash, debtors and creditors) of your business.



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