Accounting or Bookkeeping?
Most people think that accounting and bookkeeping are the same thing. They are related, but not the same, much like the relationship between sales and marketing.
In many businesses, bookkeeping and accounting are combined or never distinguished.
Bookkeeping is the process of recording, classifying, tracking and monitoring financial transactions. In bookkeeping, the goal is to record and summarize financial transactions and arrange them into a simple easy to use form.
Accounting, on the other hand, involves analyzing, recording, summarizing, reporting, reviewing, and interpreting financial information. The information used by the accounting staff comes from the data provided to them from bookkeepers.
How We Can Help
- Creating and Providing continual Reporting
- Making and Monitoring Budgets
- Setting up and Analyzing Job Costing
- Establishing Profit Centers to Analyze each part of your business
- Overseeing Bookkeeping staff
- Helping to create Accounting Policies and Procedures
- Giving you tools to Analyze your business and plan ahead…
Running all the parts of a business isn’t easy. Make this part simpler with Quality Accounting Solutions today…