The Difference between Bookkeeping and Accounting

bookkeeping
Every business and not-for-profit entity needs a reliable bookkeeping system based on established accounting principles.

Bookkeeping refers mainly to the record-keeping aspects of accounting; it’s essentially the process of recording all the information regarding the transactions and financial activities of a business.

Accountants design the internal controls for the bookkeeping system, which serve to minimize errors in recording the large number of activities that an entity engages in over the period.