Bookkeeping is a growing profession that involves recording, analyzing, and interpreting financial transactions on a daily basis. It is essential for small businesses as it saves time and money by properly recording expenses, facilitating tax payments, and preventing costly mistakes. A professional bookkeeper should have skills like using bookkeeping software, understanding transactions, regularly entering data, reconciling bank statements, and preparing reports. Hiring a bookkeeper benefits businesses by freeing up their time, saving them money, and ensuring accurate financial records and tax filings are maintained.