is administrative and transactional. It focuses on the accurate, day-to-day recording of past and present financial data.
: Spotting tiny discrepancies during reconciliations. bookkeeping
: Sorting transactions into appropriate accounts like assets, liabilities, and expenses. is administrative and transactional
: Comparing the company's internal books against bank statements to catch errors or discrepancies. bookkeeping
: Preparing standard documents like the balance sheet, income statement, and cash flow statement. ⚖️ Bookkeeping vs. Accounting