Bookkeeping: Recording and categorizing financial transactions, Posting debits and credits, Producing and sending invoices, Maintaining and balancing subsidiaries, general ledgers, and historical accounts, Completing payroll, Recordkeeping, It is mainly related to identifying, measuring, and recording, financial transactions, Its objective is to keep the records of all financial transactions proper and systematic, It doesn't require any special skill sets., It deals with single entry and double entry bookkeeping., Accounting : Preparing adjusting entries, Preparing financial statements, Completing income tax returns, Financial analysis and strategy, Tax strategy and tax planning, Financial forecasting, It is the process of summarizing, interpreting, and communicating financial transactions which were classified in the ledger account, Its objective is to gauge the financial situation and further communicate the information to the relevant authorities, It requires special skills due to its analytical and complex nature., It prepares a company's budgets and plans loan proposals.,
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Bookkeeping vs accounting (https://youtu.be/abpkxAJAq6E?si=2bMNCke38hGVrOhS)
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