Accounting & Book Keeping Outsourcing Company in India

Understanding Bookkeeping and Accounting Services :

Many individuals mistakenly use the terms "bookkeeping" and "accounting" interchangeably. However, it's crucial to recognize that bookkeeping serves as the foundational step leading to accounting. Bookkeeping involves systematically recording a company's financial transactions, such as in transaction day books, journals, and ledgers. Accounting, on the other hand, entails the organized recording and reporting of an organization's financial activities over a specific period. This includes preparing documents like balance sheets, profit and loss accounts, and cash flow statements, which provide a clear overview of the entity's financial standing.

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