what is meant by the term bookkeeping?

Answer 1

It refers to the practice of recording financial transactions into various journals or ledgers. Just the raw financial data, no analysis on it yet.

Answer 2

Accounting consists of a number of functions, one of which is entering information into the accounting system. This is what bookkeeping is all about. So you're recording, meaning entering various transactions into the accounting system. A very important function that has repercussions further on down the line if done incorrectly. So although it's considered low on the accounting totem pole, it's a super important function. And one where inaccuracies will snowball further down the line.