Have you always thought that bookkeeping and accounting is the same thing? This is not true. Both bookkeeping and accounting have different roles to play in the success of your business. Read this blog post to find out the difference between the two.
Most people find it hard to distinguish between the terms bookkeeping and accounting. While it is true that accountants and bookkeepers share similar goals, they support your business in two very different stages of your financial cycle. Accounting is subjective and gives you business insights based on bookkeeping information. Bookkeeping on the other hand is administrative and transactional and is mainly concerned with the accurate recording of financial transactions.
If you are not sure whom to hire, then read on. In this blog post, we will tell you the functional difference between accounting and bookkeeping and the difference in the role of a bookkeeper and accountant.