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Bookkeeping vs Accounting: What’s the Difference? How Should You Choose?

LyfeAccounting

So today, I’m going to give you three simple points that you should know about bookkeeping vs accounting. Bookkeeping vs Accounting: What’s the Difference? Defining Accounting and Bookkeeping. Technically, the definition of bookkeeping is the activity or occupation of keeping records for financial affairs of a business.

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Accounting Basics for Small Business Owners [By a CPA]

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But let’s first discuss why accounting is important. Why is Business Accounting Important? To understand why accounting is important, it is best to look at a simple example. Anyway, us aside, let’s summarize this post so you can walk away with the accounting basics for small business. Quick Recap.