free easy bookkeeping software for small business

Analyzing and Extracting these financial data in the form of various financial statements and records for users such as shareholders and managers and for the future use.Īs said earlier, Bookkeeping is the traditional process of recording day-to-day business transactions. Categorizing the transactions into meaningful and orderly manners.Ĥ. Recording the transactions (obtained through bookkeeping) in the proper ledger accounts.Ģ. When looking deeply into both the terms, Accounting and Bookkeeping it can be explained as:Īccounting is a process of recording business transactions systematically.It includes additional reports and further financial analysis of the transactions. This recorded financial information is again processed by accountant and produced generally in financial form statement to users such as shareholders and managers is what the process called as accounting. Recording the day-to-day financial activities of business, carried out by bookkeepers is what called as bookkeeping. What both actually is and How it differs? Here comes into the picture, the two important terms: Accounting and Bookkeeping. Monitoring the financial department, is a huge challenge and a very responsible task which needs additional care. So apart from the core competence, the business should also focus on its financial structure for further growth and development. Business, typically formed to earn profit: which has become the determinant for the growth of business.

Free easy bookkeeping software for small business