Essential Qualities of Bookkeeping - JSS1 Business studies Lesson Note

Accuracy: Records must be precise to provide reliable financial information.

Consistency: Consistent methods ensure uniformity and comparability of financial data over time.

Timeliness: Recording transactions promptly ensures up-to-date financial information.

Organization: Proper organization of records simplifies retrieval and analysis.

Attention to Detail: Small errors can lead to significant discrepancies, so meticulous attention to detail is essential.

Understanding of Accounting Principles: Bookkeepers should have a good grasp of accounting principles to ensure accurate recording and classification of transactions.