Bookkeeping is the general name for the process of keeping a structured record of all financial transactions.


There are different ways in which these records can be kept – each with advantages and disadvantages:

Paper Records

Advantages Disadvantages
Easy to see and transport Can be bulky
No specialist equipment Relies on good arithmetic
Everything you do is visible Not good if a high volume of transactions


Advantages Disadvantages
Can use formulae to do calculations Need some knowledge of Excel
Can produce a summary report by linking figures from the record It can be hard to spot errors if you are not familiar with the spreadsheet or Excel
Can insert comments to explain cell entries Cost of the software
  Making changes can make the formulae change eg. Summing if you’ve inserted a row


Help with bookkeeping and more...

A range of services provided by WYCAS (West Yorkshire Community Accounting Service) are available to help your organisation with its bookkeeping including:

To find out more contact WYCAS

Excellent knowledge delivery! Very interesting training course!” 

Baltica, about WYCAS's Basic bookkeeping course.