- Knowledge Base & Help Center
- Bookkeeping & Accounting Basics
Troubleshooting & Support
Standard Operating Procedures & Policies
- Transaction Categorizations | Basic Services
- Schedule Maintenance with Month End Journal Entry | Basic Services
- Payroll Journal Entries | Basic Services
- Simple Month End Journal Entries | Basic Services
- Bank & Credit Card Reconciliation | Basic Services
- Standard Monthly Report Package
- Month-End Close | Basic Services
- Monthly Close Timing and Required Information
- Autonomous AP Processing | Advanced Services
- Applying Payments to AR Invoices | Advanced Services
- Class & Department or Project/Job Tracking | Advanced Services
- Payroll Categorizations | Advanced Services
- QBO W-9 Form Request | Advanced Services
- 3rd Party Point-of-Sale & Credit Card Merchant | Advanced Services
- Monthly Standard Invoicing | Advanced Services
- Enhanced Ongoing Report Support | Advanced Services
- 3rd Party Inventory Reconciliation | Advanced Services
- Rapid Write Up Procedures
BOS Feature User Guide
Accounting Partner Resources
AI UNCHAINED Conference
What’s the difference between bookkeeping and accounting?
Bookkeepers handle daily financial tasks like categorizing transactions, posting credits and debits, and running financial reports. Accountants take that information to provide financial predictions and guidance for a business.
They’re related terms but different when it comes to a business’ overall health. Bookkeeping entails the recording of daily transactions in a consistent manner (categorizing transactions, running reports, reconciling accounts, etc.), and it is essential to building a financially sound operation. Bookkeepers take care of day-to-day financials, like posting credits and debits, maintaining the general ledger, and completing payroll.
On the other hand, accounting is more high-level, and it uses the financial information managed/reported by a bookkeeper to generate financial models and guidance.