The Difference between Bookkeeping and Accounting
Don’t you find bookkeeping and accounting quite confusing?
There’s been much argument between what a bookkeeper and an accountant is, and most of the time, accountants are being considered as bookkeepers too. Although some roles may be closer and more relevant to one another, there are still a number of differences that can make you understand each term.
A bookkeeper is often described as literally, a keeper of books. This requires all transactions, data and other kinds of information that needs recording. In literal sense, this can also be one of the roles of an accountant, but sometimes, companies get bookkeepers instead when they think that there is not much accounting to do except for transaction reports and records.
On the other hand, accounting and those who work in the field, accountants, are the ones who may or may not work with a bookkeeper, and is normally the main man who is in charge of different types of calculations, regarding expenses and sales, profit, and other financial terms. Accountants differ from bookkeepers because most of them graduate with various MBA and accounting charter ships, so technically, the former are more competitive when it comes to career position and compensation opportunities. Although it is not an embarrassment that if you are a bookkeeper, you don’t deserve to become an accountant. In the real world, most bookkeepers usually end up being accountants overtime because of the experience that they get to have with bookkeeping.
Accountants, however, is still a better options because he or she has the ability to be a bit flexible with the rules of accounting. There are a number of opportunities for the licensed accountant, such as offering accounting and bookkeeping services, accounting and taxt services, accounting services in Singapore or other Singapore accounting services.
It is not impossible that accountants can also have the chance to come up with the own Singapore accounting services in the future.
Still, the meaning of being an accountant and a bookkeeper tends to interchange depending on the analysis of data or, for example, having new trends and softwares to be used. After all, books are now referred to online versions so bookkeepers are still considered professionals. Actually, most companies are now calling them as data entry specialists, data mining professionals and data entry executives. Accountants, however, would always love it to be called as such.
Learning to understand accounting and bookkeeping refrains an individual from making mistakes and getting themselves confused, but with an open mind and a quest for learning, it won’t take long before you get both meanings.