Bookkeeping for beginners: a simple introduction
Updated June 4, 2026
Bookkeeping is recording all of a business’s financial transactions — systematically and with documentation (vouchers). You must record chronologically, keep vouchers for five years and number invoices sequentially. With accounting software you don’t need prior knowledge of double-entry bookkeeping.
What is bookkeeping?
Bookkeeping is the ongoing recording of purchases, sales and other transactions. The purpose is to give an accurate picture of the finances and the basis for reports such as the VAT return, business specification and annual accounts.
Key concepts
- Voucher (bilag) – the documentation behind a transaction (invoice, receipt, bank statement)
- Debit and credit – each transaction is recorded on two accounts that balance (double-entry)
- Chart of accounts – the list of accounts you post to, usually following the NS 4102 standard
- VAT code – determines which VAT is calculated on a line
What does the bookkeeping obligation require?
You must record transactions chronologically and systematically, have a voucher for each entry, keep the documentation for five years (accessible in Norway), and number outgoing invoices sequentially without gaps. This follows from the Bookkeeping Act.
How to get started
Accounting software makes the job easier: it suggests the account and VAT code, keeps rates current and produces the reports for you. Kantax is built so you can do the books yourself without an accounting background — with a receipt inbox, AI extraction and automatic reports.