Bookkeeping or Accounting?Jan 13, 2023
Bookkeeping vs. Accounting
While they seem similar at first glance, bookkeeping and accounting are two very different mediums. Bookkeeping serves as more of a preliminary function through the straightforward recording and organizing of financial information. Accounting takes that information and expands on it through analyzing and interpreting the data.
While any competent employee can handle bookkeeping, accounting is typically handled by a licensed professional. It also includes more advanced tasks such as the preparation of yearly statements, required quarterly reporting and tax materials.
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