Book keeping VS Accountancy Book keeping vs Accountancy difference: When it comes to managing a business’s finances, the terms “bookkeeping” and “accountancy” are often used interchangeably. However, they refer to different processes, both crucial to the financial health of an organization. Let’s break down the key differences between bookkeeping and accountancy in a simple… Read More »
Book Keeping Book keeping is a subset of accounting and refers to the process of recording and organizing financial transactions of a business. It involves systematically recording the financial activities such as sales, purchases, receipts, and payments in appropriate books or electronic records. Accounting, on the other hand, encompasses a broader set of activities… Read More »
Data entry and bookkeeping Data entry and bookkeeping are distinct job functions that involve working with financial data, but they have notable differences in their job descriptions: Data-entry: Data entry entails inputting data into a computer system or database. When it comes to financial data, a data entry clerk is responsible for entering invoices, receipts,… Read More »
The services offered by bookkeeping firms Bookkeeping Firm Bookkeeping firms typically offer a range of services related to managing a company’s financial records. Here are some of the services commonly offered: Bookkeeping This involves maintaining accurate and up-to-date financial records for a company, including recording transactions, reconciling accounts, and producing financial statements. Accounts payable and… Read More »
Bookkeeping and Accounting Bookkeeping and accounting are related to each other and often used interchangeably, but they are not the same thing. Here are some differences between bookkeeping and accounting: 1. Book keeping is the recording and organizing of financial transactions, while accounting involves interpreting, analyzing, and summarizing financial data. 2. Book keeping involves… Read More »
Crucial Benefits of Outsourcing Your Bookkeeping Services Outsourcing bookkeeping services can provide a number of important benefits for businesses. Here are some of the most crucial benefits of this services: Cost savings: It can be a cost-effective way to manage a company’s finances. By outsourcing, businesses can avoid the costs of hiring and training in-house… Read More »
