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Call ExpertBookkeeping is the foundation of accounting. It is the process of recording financial transactions, while accounting is the process of summarizing and interpreting that data.
Characteristic | Bookkeeping | Accounting |
---|---|---|
Purpose | To record financial transactions | To summarize and interpret financial data |
Scope | Narrower | Wider |
Focus | Details | Big picture |
Tools | Accounting software | Financial statements, tax returns, etc. |
Expertise | Not required | Required |
An accountant can assist with: