What is Bookkeeping?
Bookkeeping is the practice of recording, storing, retrieving, keeping, and analyzing the financial records of a company. Common bookkeeping duties include recording receipts, paying suppliers, monitoring accounts receivable, providing financial reports, billing services provided to clients, and so much more.
What’s the Difference Between a Bookkeeper and Accountant?
The terms between bookkeeping and accounting are interchangeable to a degree, but there is a difference between both that you should know about. Bookkeeping is the recording of financial transactions, whereas accounting is more complex, including creating a general ledger and financial statements, classifying transactions, creating and managing a budget, filing taxes, and instituting financial controls