Welcome to the world of Commerce
Evolution of Commerce
History of commerce dates way back to the era, since the time barter system was prevalent. Barter system ensured the exchange of goods for goods (or commodities for commodities). As time progressed, different forms of money was introduced to ease the trading practice.
It was imperative to maintain the records of the transactions and more specifically to mention, the receivables (money that you will receive) and the payables (money that you need to pay). In the olden days we had a person called “Munim” today known as an “Accountant” who used to write down each piece of transactional information as records. Thus evolved the practice of Book keeping. As these records ran into several hundreds or thousands of pages; thus, becoming a book.
Nowadays, technology has replaced all paper transactions and made it digital! Even the accounting records are managed digitally.