Bookkeeping, is the systematic routine method of retrieving financial information categorizing and outing it into an accounting system and generating reports to make a better decision in the future. - The recording of Past Financial Data to make future business decision. 5 Main Category for Transaction 1. Assets - Inventory 2. Liabilities (Future obligation like Payroll) 3. Equity ( 4. Revenue (Sales) 5. Expenses QuickBooks 6 steps process to Reconcile your transaction (Matching all of your transaction with your bank account)