Basic bookkeeping duties refer to the set of operational tasks necessary to keep a business’s financial records accurate and up-to-date. This includes tracking income and expenses, balancing accounts, preparing financial statements, and filing taxes. More specifically, basic bookkeeping duties involve recording transactions in a journal or ledger, classifying transactions, creating invoices and entering payments, reconciling bank accounts, creating reports for internal use, and ensuring compliance with government regulations and laws. By taking care of these day-to-day tasks, businesses ensure that their financial information is accurate and up-to-date, allowing them to make better decisions about their future.