Unless you’re a bookkeeper or accountant by trade, you probably don’t spend your days thinking about the two (but hey, no shame if you do). Similarly, you probably don’t know that there’s a difference between the two.
That’s because most people think of bookkeeping and accounting as one in the same—and they’re not entirely wrong. It’s true that bookkeeping and accounting are often confused with each other because of their relation to financial reporting. But while these two are related, interdependent, and essential business functions, bookkeeping and accounting are distinct from one another, too. In this article, we explore bookkeeping vs. accounting, including the differences between the two, how they overlap, and how each is evolving thanks to accounting automation software. Let’s go!