Bookkeeping is essentially all of the accounting activities that support an entity's "day-to-day" operating activities.

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All entities will exchange goods and/or services in the course of their operations. In doing so, they will need to perform operational accounting activities. At a minimum, they will likely make purchases and sales that will require managing payments made and received. If they sell or consume goods, they will need to manage inventory; and, if they hire employees they will need to manage payroll.

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The Bookkeeping Foundations lessons review the five main areas of operational accounting: Accounts Payable and Purchases, Accounts Receivable & Sales, Cash Flow & Reconciliations, Inventory & Purchase Orders, and Employees & Payroll.