In summary, bookkeeping is the foundational process of recording financial data, while accounting builds on that data to provide insights, compliance, and strategic decision-making. Both are essential for a business’s financial health, but they serve different purposes.
BOOKKEEPERS record daily transactions, maintain ledgers and journals, and track income and expenses. They record and organize financial data and focus on RECORDING.
ACCOUNTANTS prepare financial statements, analyze financial data, are involved in forecasts and budgets, ensure adherence to Accounting Standards, and work with businesses in their management and problem-solving. Accountants normally possess certifications and higher education qualifications. They focus on ANALYSIS AND REPORTING.
Many businesses settle for bookkeepers, when they can have more – professionals with long experience who can help them really understand their business.
At Succentrix Wichita, we offer Accounting, Business Advisory, and CFO services. If you want a business partner who can help you achieve your business goals through sound reporting and financial advice, call us at 316-789-4444. Don’t settle for bookkeeping when Accounting and sound Business Advice is an option.
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