The practice of entering your company’s financial activities into organized accounts on a daily basis is known as bookkeeping. Additionally, it can also refer to the various recording techniques available to businesses. Bookkeeping is a crucial part of your accounting process for a variety of reasons. If you keep transaction data up to date, you can create reliable financial reports that help you track business success. Also, in the event of a tax audit, detailed records will come in helpful. In recent years, The concept of virtual bookkeeping has gained more traction.