Difference Between Bookkeeping and Accounting
Every business needs to have a bookkeeping and accounting process to prepare the financial records at the end of a year/quarter. In addition, bookkeeping and accounting help the business evaluate its worth and take future decisions.
Bookkeeping – Bookkeeping is the process of maintaining and recording all financial transactions in the original books of entry of a business.
Accounting – Accounting is the process of interpreting, analyzing, summarizing, and reporting the financial transactions of a business. The financial statements prepared in accounting are a precise summary of financial transactions over an accounting period.
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Recording financial transactions > Posting debits and credits A > Producing invoices, Completing payroll > Maintaining and balancing subsidiaries’ general ledgers, and historical accounts VS ACCOUNTING:- SG Preparing adjusting entries « Preparing company financial statements « Analyzing costs, of operations, Completing « income tax returns. Aiding the business owner, in understanding « the impact of financial decision « 3 @ www teqoaccounting com +1 (778) 886-0508 @"> BusinessMore posts from Alice Smith
View postsImportance of Accounting Services for Small Business
Alice Smith · Accounting evaluation helps them understand the direction of the business. It helps you record, summarize, and categorize all transactions related to your business. · Teqo Accounting offers a range of accounting and bookkeeping services in Surrey to individuals and businesses in ...
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Alice Smith · Accounting Services in Canada - Any organisation whether for-profit or not-for-profit requires to maintain day-to-day accounting. which helps them to track financial status of business for revenues, and expenses. · Teqo Accounting Team takeover your load and responsibility to k ...
Bookkeeping and Accounting Services in Surrey | Let us help you.
Alice Smith · Teqo Accounting provides high quality, affordable accounting services in Surrey, BC. · Teqo Accounting is a full-service leading accounting firm in Surrey, serving businesses and individuals in the areas of tax services, accounting services, business consulting and management acc ...
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