Is bookkeeping simply 1 task of accounting?
- shipwreckLv 77 years agoFavorite Answer
Bookkeeping is mostly just history, others decide what to buy and what direction the business takes. Bookkeepers reconcile bank accounts, create financial statements and might do AR and AP or Payroll depending on the company.
Then the work is turned over to accountants who will decide things like to capitalize a major repair and review the bookkeeping. They then meet with shareholders and others to discuss business plans and explain the financial statements.
I was a CPA but prefer bookkeeping so now I do bookkeeping. I have done bookkeeping most of the last 40 years. I could have taken the CFO job but didn't want it. I am making sure the new CFO knows what the data means but she has to go to shareholder meetings and I don't.
- 7 years ago
No it's not just a task of accounting but more than that....
Bookkeeping is the process of recording, in chronological order, the daily transactions of a business entity. It forms part of the accounting information system.
So, keep this in mind....Source(s): Affordable Bookkeeping Australia
- 5 years ago
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