Bookkeeping vs. Accounting: What's the Difference?
Both bookkeeping and accounting play a vital role in financial management but differ in their focus:
Bookkeeping
Focuses on recording and organizing daily financial transactions like sales, purchases, and payments.
Its primary aim is to maintain accurate, up-to-date financial records.
Accounting
Involves analyzing financial data, preparing financial statements, and offering insights to support strategic decision-making.
Encompasses financial planning, auditing, and tax preparation.
With Proficient, businesses across the UAE can streamline their bookkeeping processes while gaining access to insightful financial expertise.