History of bookkeeping

We are lead to believe that the history of bookkeeping dates back over 7000 years. Since that time that need for bookkeeping and accountancy has risen and is now and essential of every day life and business. In the ancient ruins of Babylon artefacts prove that the start of bookkeeping occurred at this time. Most modern day occurrences will have been founded in a time period it just so happens that bookkeeping dates back 7000 years. The use of bookkeeping back in ancient times are still in use In the modern day times. We still use bookkeeping to show what is coming and out. The people back in them days used to use primitive accounting to help keep stock of herbs and crops. They also used the same method to keep a record of how fast the crops grew throughout the year. As there was no definite farming season the farmers used their accounting methods to try and control the surplus crops.

By keeping track of what was grown and sold they could check if any crops or animals were being stolen. By using this accounting method it would stop thieves especially workers on the farms as they now knew it would be easier to be caught out. As computers, pens and paper were not invented then, they would use clay tokens as their counters. You may still be able to see these in museums as part of the ancient World. This invention of bookkeeping was a giant leap for mankind and has changed the way that we control our financial data even today. As time went on the need for bookkeeping grew and by the time we reached middle ages double entry bookkeeping emerged. It was used by travelling merchants who made multiple transactions funded by bank loans. They used double entry bookkeeping to keep track of their debits and credits. The words debit and credit were derived from Latin words. In these times it was the start of banks lending money and even more important the history being able to keep records of it. Banks would have used double entry to keep track of what was lent and what was coming back in. It would have been very easier to find a bookkeeper in Ohio back in the middle ages.