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F.A.Q.

Frequently Asked Questions

Is accounting and bookkeeping the same thing?

Bookkeeping is the recording part of the accounting process. Expenses and transactions are orgainized and entered into a database. Generally, an accountant will use this data to record, analyze, and report on the company’s financials.

Is bookkeeping the same as payroll?

Bookkeeping, accounting, and payroll are all a part of a company’s financials but they all serve a company in different stages of the financial process.

What is more important? Bookkeeping or Accounting?

Bookkeeping is a more hands-on administrative role handling day-to-day records and transactions, including purchases, sales, and payments. Accounting tends to be more subjective providing businesses with insights based on bookkeeping data. So, in short, a healthy company has both an accountant and a bookkeeper working closely together with a clear understanding of the needs of the business.

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