What Is The Difference Between Bookkeeping And Accounting?
Accounting and bookkeeping are both essential financial practices for any business. The terms ‘bookkeeping’ and ‘accounting’ are often used interchangeably, but they actually refer to two different things. An accountant may also provide bookkeeping services, but not all bookkeepers are accountants. As a business owner, it is important to hire the right person for looking after the financial affairs of the business. So to learn more about the difference between bookkeeping and accounting, we got in touch with CPA Adam Valdez who offers both accounting and bookkeeping services in San Antonio. What Is Bookkeeping? Bookkeeping is the process of recording all the financial transactions of a business, and accounting is the process of interpreting, classifying, and summarizing those transactions to provide decision-makers with useful financial information. A bookkeeper will typically…