How Accounting is Different from Bookkeeping?
Nowadays everybody needs an accountant whether it's an individual or a business. Where to spend? How to spend? When to spend? Should we need to save some money or Should we need to invest? All these questions are arising when we don't have an accountant. Accountants play a very big role in a business right now. A business owner or an individual both appoint an accountant to manage their day to day expenses. Bookkeeping is initially done when there is no accounting system. Before accounting, we are working manually which means we have to write our data in the books of accounts that means we have to do bookkeeping. Bookkeeping is a part of Accounting and accounting is huge concept which we'll discuss. Now Let's talk about Bookkeeping, WHAT IS BOOKKEEPING AND HOW IT WORKS? Bookkeeping is the recording of the financial transaction and also is a part of the process of accounting in business. Mainly the transaction including purchase, Sales, Receipts, and payments by an indi...