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What is the difference between Bookkeeping and Accounting?

The practice of Bookkeeping records the transactions while Accounting analyzes and summarizes data for decision-making purposes. Bookkeepers need attention to detail, while accountants require advanced analytical skills. While accountants hold degrees and/or certifications, bookkeepers generally have vocational training.

How does Bookkeeping work?

Bookkeeping is the process of recording and tracking financial transactions for a business which includes sales, expenses and sometimes payroll. The purpose of bookkeeping is to ensure that a company's financial records are accurate, up-to-date and organized.