Remove Cost Accounting Remove Data Entry Remove Financial Statements
article thumbnail

The Difference between Bookkeeping and Accounting

SMB Accounting and Consulting

Bookkeeping and accounting are often used interchangeably when describing a process of recording financial transactions for a business, but they are not the same functions. Auditors provide opinions on the accuracy and reasonableness of financial statements. to review performance and profitability.

article thumbnail

Why is it Important to Reconcile your Bank Account?

Nanonets

Reconciling the bank statement involves comparing the company's internal financial records or ledger to the bank statement received via the bank. Key takeaways: Bank reconciliation is the transaction matching of your records against the bank statement.