Bookkeeping is the process of recording and organizing all the financial transactions of a business. It’s the foundation of the accounting process.

Bookkeeping involves recording financial transactions, while accounting includes interpreting, classifying, analyzing, and reporting those financial records.

Invoices, receipts, bank statements, payroll records, and anything that supports your income and deductions.

Generally, you should keep records for at least 7 years for tax purposes, though this can vary by country.