Bookkeeping is an essential part of any business, but it can be a tedious and time-consuming task. To make things easier, bookkeeping machines were invented. In this article, we will explore the meaning and definition of a bookkeeping machine, its origins, and its associations.
Definitions
A bookkeeping machine is a mechanical or electronic device used to record financial transactions. It can be used to maintain a ledger, calculate balances, and produce financial statements. The machine can be operated manually or automatically.
Origin
The first bookkeeping machines were developed in the late 19th century. They were mechanical devices that used paper cards to record financial transactions. These machines were often used in large businesses and government agencies.
In the 20th century, electronic bookkeeping machines were developed. These machines used magnetic tape or disks to store data. They were faster and more accurate than mechanical machines and allowed for more complex calculations.
Today, bookkeeping machines are often integrated into accounting software, making them even more efficient and user-friendly.
Meaning in different dictionaries
According to Merriam-Webster, a bookkeeping machine is “a machine for recording financial transactions and posting to accounts.”
The Oxford English Dictionary defines it as “a machine used for keeping financial records, typically by means of punched cards or magnetic tape.”
Associations
Bookkeeping machines are often associated with accounting and finance. They are used by businesses of all sizes to manage their financial records and transactions.
They are also associated with efficiency and accuracy. Bookkeeping machines can perform complex calculations quickly and accurately, reducing the risk of errors.
Synonyms
Some synonyms for bookkeeping machine include accounting machine, ledger machine, and adding machine.
Antonyms
There are no direct antonyms for bookkeeping machine, but manual bookkeeping or paper-based bookkeeping could be considered the opposite.
The same root words
The root words of bookkeeping machine are “bookkeeping” and “machine.” Bookkeeping refers to the process of recording financial transactions, while machine refers to a mechanical or electronic device.
Example Sentences
- The company invested in a new bookkeeping machine to streamline their accounting processes.
- The bookkeeping machine saved the accountant hours of manual work.
- The bookkeeping machine was invented to make accounting easier and more accurate.
- The bookkeeping machine was integrated with the company’s accounting software for even greater efficiency.
- The bookkeeping machine was a game-changer for small businesses, allowing them to manage their finances more effectively.