Menu

Tag: Difference between Bookkeeping and Accounting

Accounting versus Bookkeeping

Accounting versus Bookkeeping

While bookkeeping and accounting are both essential business functions, there is an important distinction. There is often a misconception that bookkeeping and accounting are the same things. Bookkeeping is the collection, sorting, and recording of the financial transactions of a business. The term accounting is much broader, going into the realm of designing the bookkeeping […]