Recording financial transactions is an important activity that must be carried out by a business. In accounting, recording financial transactions with Online bookkeeper is a fundamental thing that must be done resources. With these records, all business financial transactions can be accounted for and brought to the financial statements, including proof of transactions.
Financial transactions are economic activities in the company’s sub-system or events that occur in the company’s units. Where, the object of measurement can be valued with currency values, and can affect financial statements made in the accounting system. Financial transactions have a value or are expressed in units of money that greatly affect the financial condition of the company or organizational unit. With the transaction, we can see how companies use economic resources and how to obtain funds that can be used to finance these activities. Because of the importance of a financial transaction in a company, the company needs to keep records. Then, how important is the recording of financial transactions carried out? To answer that question, here is an explanation that you can understand.
The activity of recording financial transactions is not without purpose. From this activity, companies can:
Provide information relating to economic resources, company capital, and obligations.
Provide detailed information regarding changes in economic resources due to the existence of business activities carried out for profit.
Disclose information relating to relevant company financial statements to report users.
Provide financial information that can help the company to estimate the company’s potential for future profits.
To complete the recording of a financial transaction, the transaction evidence must be kept so that it can be used if there is a difference or an error in recording.
Current technological advances certainly have a big impact, one of which is the use of online accounting software. One online accounting software that can be used is Online Bookkeeper. An online bookkeeper is online accounting software that has several features for recording, calculating, and managing company financial affairs.