- DIFFERENCE BETWEEN BOOK KEEPING AND ACCOUNTANCY SOFTWARE
- DIFFERENCE BETWEEN BOOK KEEPING AND ACCOUNTANCY PROFESSIONAL
There are two basic kinds of bookkeeping : single entry bookkeeping and double entry bookkeeping. ) and the recording of the outgoing transactions ( paying for specific bills in the correct time, etc.
DIFFERENCE BETWEEN BOOK KEEPING AND ACCOUNTANCY SOFTWARE
These kind of software is very sophisticated and it can tremendously help the job of the bookkeeper.īasically the process of bookkeeping consists the recording of the incoming transactions ( received payments in form of money or cheques from customers, etc. In the modern days the books got substituted with modern bookkeeping software which run on personal computers.
In the past times the records were kept in a book and this is why this financial tool is called bookkeeping. Instead of the analyzing the bookkeeping relies only on the recording of the information. The process of bookkeeping is mainly mechanical and does not require any analysis. To understand what separates accounting from bookkeeping we must completely understand both categories and we must learn how they function in the everyday use.īookkeeping is the process of recording the business transactions and the relations between the transactions. There are slight differences between accounting and bookkeeping and they are mainly some technical differences. Although both careers have similar benefits including flexibility, the day-to-day tasks vary between the two.Accounting and bookkeeping are both financial tools used for the recording of business transactions.
DIFFERENCE BETWEEN BOOK KEEPING AND ACCOUNTANCY PROFESSIONAL
There is also the option to become an accounting technician apprentice, allowing you to work in an accounting role while studying simultaneously.Īs you can see the roles of an accounting professional and a bookkeeper are very different. Others choose to go straight into studying for accountancy qualifications. Some may choose to go to university and then work while gaining their accountancy qualifications. There are a variety of study options available to people looking to become an accounting technician or progress to being an accountant. Similar to bookkeeping, accounting services can be offered independently, so you can choose to be your own boss or work for a company. Additionally, accounting skills are transferable, allowing you to work abroad in a country and industry of your choice. As an accounting technician, you will be highly employable, as every business in all industries needs an accountant, which gives you the flexibility to choose to work in an area that you enjoy. Accounting professionals must be able to work under pressure and be natural problem solvers. An accountant or accounting technician will analyse the information provided by a bookkeeper to generate financial statements and forecast future business needs. The role of an accountant, and that of an accounting technician, can be more varied, as they focus on the bigger financial picture and are qualified to perform a wider range of tasks. Technological advances are continuing to change the role of a bookkeeper, so it is an exciting time to enter an evolving role. So you may be employed in finance organisations, government departments, public or private sector organisations. Most bookkeepers are employed specifically within finance teams, in varied industries. Once you become qualified, there are many opportunities to progress into more advanced accountancy roles with further study. It can be a great role to start in when pursuing a career in finance, with affordable entry routes and a relatively quick qualification time. Additionally, you may choose to offer your services independently and be your own boss, offering you great flexibility. Bookkeeping is an attractive career choice as your skills will always be in demand from employers. This may include keeping an accurate record of the money coming in and out of a business, managing the day-to-day cash flow and payroll, and preparing invoices and tax returns. Below you will find a more detailed description of both roles, which may help you to decide which is best for you.Ī bookkeeper is responsible for keeping the finances running efficiently. Accounting however, focuses on interpreting and presenting that data. Bookkeeping is the first part of the accounting process, it focuses on recording and organising financial data. Home News Difference between accounting and bookkeeping? Difference between accounting and bookkeeping?Īlthough the work of both an accounting professional (either an accountant, or accounting technician) and a bookkeeper often overlap, the roles are quite different.
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