Even though a lot of entrepreneurs and business owners use the terms “bookkeeping” and “accounting” interchangeably, the two indicate two different types of services. For any business owner, it’s important to know the difference so that they know exactly what to buy, whether it be a service provided by a professional, an office, an online service, or a software.
In this article, we’ll be going through the differences between the two terms and kinds of services, so that you can know exactly what to purchase when the moment comes.
Accounting is a different activity from “recording.” More than recording data, accounting is about analyzing and interpreting information. When you analyze your business’s financial records, you can make informed financial decisions. So, accounting activities include:
Just like bookkeeping, the accounting tasks can be handled with the LessAccounting software or by hiring a professional.