Introduction
Book-keeping is the process of recording financial transactions and events in a systematic and organized manner. It involves the recording of financial data, designing the systems in recording, classifying, and summarizing the recorded data, and interpreting the data for internal and external users.

Recording of financial data
The primary function of book-keeping is the recording of financial data. This includes the recording of all transactions, including purchases, sales, payments, and receipts. The data is recorded in a systematic and organized manner to ensure that it is accurate and complete. This information is necessary for the preparation of financial statements, tax returns, and other financial reports.

Designing the systems in recording, classifying, and summarizing the recorded data
Book-keeping involves designing systems for recording, classifying, and summarizing financial data. This involves the creation of charts of accounts, which is a list of all the accounts used to record financial transactions. The accounts are classified into different categories, such as assets, liabilities, equity, revenue, and expenses. The financial data is then summarized into financial statements, which provide an overview of the financial health of the business.

Interpreting the data for internal and external users
Book-keeping also involves interpreting financial data for internal and external users. Internal users, such as management, use financial data to make informed business decisions. External users, such as investors and creditors, use financial data to evaluate the financial health of the business. Book-keeping provides the necessary financial data for both internal and external users to make informed decisions.

Conclusion
Book-keeping is essential for the financial health of a business. It involves the recording of financial data, designing systems for recording, classifying, and summarizing the recorded data, and interpreting the data for internal and external users. Accurate and complete book-keeping is critical for making informed business decisions and evaluating the financial health of a business.

It records only financial data because it starts from identifying and end on classifying of financial data so upto this stage recording of financial data takes place.