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Bookkeeper vs. Accountant: What’s The Difference?
Bookkeeper vs. Accountant: What’s The Difference?
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Guest
Guest
Mar 13, 2023
10:47 PM
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Accounting refers to the process of arranging the financials of a company by recording, analyzing, summarizing, and reporting the data. In simple words, accounting turns financial data into useful information.
It is more subjective and gives insights into an organization’s financial health. It is usually done by Certified Public Accountants, popularly known as CPAs.
Bookkeeping, on the other hand, is a crucial part of the accounting process that keeps records related to day-to-day transactions, such as receipts, sales, payments, or purchases.
This is handled by bookkeepers who do not generally require a license but can obtain a certification depending on their location and that of their employer. In comparison to accounting, bookkeeping is more administrative and transactional in nature.
Here, ledger maintenance is a crucial task out of all others. Ledger refers to the document that contains records of sales and expenses.
It can vary in complexity, ranging from a simple sheet of paper to advanced bookkeeping software like QuickBooks Hosting to track all entries.
An individual does not necessarily need any formal education to become a bookkeeper but must have knowledge of accounting terms and finances.
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