Read this article to understand the major differences between bookkeeping and accounting. At the same time, both these processes are inherently different and have their own sets of advantages. This is because both accounting and bookkeeping deal with financial data, require basic accounting knowledge, and classify and generate reports using the financial transactions. In the simplest of terms, bookkeeping is responsible for the recording of financial transactions whereas accounting is responsible for interpreting, classifying, analyzing, reporting, and summarizing the financial data.īookkeeping and accounting may appear to be the same profession to an untrained eye. Top 8 Differences between Bookkeeping and Accountingīookkeeping and accounting are two functions which are extremely important for every business organization.
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BOOKKEEPING VS ACCOUNTING COURSES SOFTWARE
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