Bookkeeping is the systematic process of recording, organizing, and maintaining a business's financial transactions. The term derives from keeping financial records in a "book," historically a physical ledger. It involves tracking all monetary activities, such as sales, purchases, payments, and receipts, to ensure accurate and up-to-date financial records. Bookkeeping forms the foundation for Accounting Services in Miami, providing the data needed to generate financial reports, monitor business performance, and comply with tax regulations.