![]() ![]() You add meaning to their financial data by carrying out audits, generating their financial statements and evaluating efficiency. With this information, you would then classify, analyse, summarise, interpret and report on a company’s financial information. AccountingĪs an accountant, you focus your time assessing the bigger financial picture, which involves utilising the data provided by bookkeepers. Recording cash receipts, invoices and inventoryĪll of which helps the company stay efficient and aware of where they sit financially.You’ll log transactions using a prescribed set of procedures, tallying them up both at the end of the day and each month. Ensuring payments and receipts are logged accurately and the correct amounts are paid and received on time. BookkeepingĪs a bookkeeper, you’re responsible for keeping accurate and complete records of the financial transactions of a business. Or at least have a lot of contact with each other on behalf of their respective clients. As such, many bookkeeping and accounting professionals work side by side. So this is where a lot of the overlap and confusion stems from.īookkeepers focus on recording and organising a company's financial data, from which accountants draw much bigger and broader conclusions. The Difference Between Accounting and Bookkeepingīookkeeping is the first part of the accounting process. To help, we’ve provided more detail on each role, plus the courses you can take to become qualified. Whereas aspiring accountants take a while longer to become qualified, but they’re rewarded with significantly higher earning potential.īefore choosing whether you should study bookkeeping or accounting, you need to understand the differences between them. However, bookkeeping has fewer barriers to entry, so learners can qualify quickly and for less overall expense. And both professions offer employees the opportunity to work for themselves and enjoy flexible working hours. While there is some overlap, and the titles can be used interchangeably, they are two very different professions with distinct responsibilities.īoth roles are in high demand, which can provide job security. Many people believe that accountants and bookkeepers do the same job. But whether you should study bookkeeping or accounting will depend on what you’re looking to achieve and where your interests lie. Both professions revolve around the financial health of a business and both offer excellent career prospects. ![]() If you’re looking for a career working with numbers, you’ve likely considered accountancy and bookkeeping. ![]()
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