{"id":197403,"date":"2026-04-06T15:06:43","date_gmt":"2026-04-06T22:06:43","guid":{"rendered":"https:\/\/www.nationalfunding.com\/blog\/?p=197403"},"modified":"2026-04-06T16:00:26","modified_gmt":"2026-04-06T23:00:26","slug":"what-is-the-difference-between-bookkeeping-and-accounting","status":"publish","type":"post","link":"https:\/\/www.nationalfunding.com\/blog\/what-is-the-difference-between-bookkeeping-and-accounting\/","title":{"rendered":"The Differences Between Bookkeeping and Accounting"},"content":{"rendered":"<p><span data-contrast=\"auto\">While an accountant or accounting firm may offer bookkeeping services, bookkeepers may not be licensed CPAs, have enough knowledge to walk you through deductions, or offer tax preparation services even if they have a\u00a0<\/span><a href=\"https:\/\/www.irs.gov\/tax-professionals\/ptin-requirements-for-tax-return-preparers\"><span data-contrast=\"none\">PTIN<\/span><\/a><span data-contrast=\"auto\">.\u00a0Both accounting and bookkeeping are a part of tracking your profits and expenses, and both help with taxes and business growth, but they serve different purposes.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Knowing the differences will help you know which to hire first, and who to\u00a0approach for\u00a0specific types of services and advice.\u00a0That\u2019s\u00a0where we come in.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">This guide starts with the definitions of\u00a0both to\u00a0make it clear how the two are different. Then we go into their responsibilities, and how these two separate types of financial professionals work together to help your business succeed.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<h2 aria-level=\"2\"><span data-contrast=\"auto\">What Accounting and Bookkeeping Are<\/span><span data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;335559738&quot;:360,&quot;335559739&quot;:120}\">\u00a0<\/span><\/h2>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Accounting is the process of sorting, storing, and reporting financial transactions to determine a company\u2019s financial health so the stakeholders can make decisions about growth and downsizing, taxes can be processed, HR knows what benefits the company can afford to offer their teams, and any other decision that involves finances.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Bookkeeping is the day-to-day recording and sorting of transactions including accounts receivables, purchases, and payments in the company\u2019s ledger (also known as \u201cthe book\u201d).\u00a0Bookkeeping sorts these into usable groupings to make analyzing finances easier for tax preparation, financial reporting, and decision-making, while also processing payments including payroll and vendor invoices.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">Neither\u00a0accountants\u00a0or bookkeepers need to be licensed, but a CPA who signs off on audit reports, documents for the government including IRS audits and SEC filings, as well as legal documents where financial information is being transferred or\u00a0disclosed\u00a0that require a CPA will need a license.\u00a0If either an accountant or bookkeeper offers\u00a0tax\u00a0preparation service and collects payment, they will need a Preparer tax identification number (PTIN) that gets included on the submission.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Hiring a bookkeeper before an accountant is a good decision if you have the knowledge to do your own taxes accurately and you want to free up time for you to manage your business instead of filing expenses and running payroll.\u00a0If you\u00a0aren\u2019t\u00a0the best with uploading receipts and attention to detail is not your strong suit, bookkeepers will keep your ledger\u00a0clean\u00a0and reduce\u00a0errors.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">It is better to hire an accountant instead of a bookkeeper first when you want to make sure your taxes are done properly with the maximum deductions allowed; you want\u00a0protection and representation in an IRS audit;\u00a0or you plan on going into a growth cycle and want to expand operations, are hiring, or are making investments.\u00a0Accounting firms or a\u00a0one-person\u00a0consultancy may offer bookkeeping services for a small\u00a0additional\u00a0fee.\u00a0It all comes down to what makes the two professionals different in their responsibilities.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<h2 aria-level=\"2\"><span data-contrast=\"auto\">The Differences in Responsibilities\u00a0<\/span><span data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;335559738&quot;:360,&quot;335559739&quot;:120}\">\u00a0<\/span><\/h2>\n<p><span data-contrast=\"auto\">The main difference between bookkeeping and accounting is that bookkeepers record and process transactions in the general ledger while making sure they are correct, and accountants analyze the data from the books for decision making purposes.\u00a0While they can be similar, the core roles are different.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<h3 aria-level=\"3\"><span data-contrast=\"none\">Bookkeeper Responsibilities:<\/span><span data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;335559738&quot;:320,&quot;335559739&quot;:80}\">\u00a0<\/span><\/h3>\n<p><span data-contrast=\"auto\">The bookkeeper\u00a0is responsible for:<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Filing and sorting expenses.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Sending out invoices and recording accounts receivables (payments).<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Matching revolving credit (credit cards and lines of credit) expenses with bank or credit union fees.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"auto\">Calculating and processing payroll including tax deductions.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-contrast=\"auto\">Producing financial statements including a company\u2019s balance sheet, income statement, Profit and Loss statements (P&amp;Ls), and Schedule C (Form 1040) if\u00a0you\u2019re\u00a0a sole proprietor or single-person LLC.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"6\" data-aria-level=\"1\"><span data-contrast=\"auto\">Checking\u00a0accounts on the general ledger (line items) for accuracy to ensure each decimal is in the right\u00a0place\u00a0and the amounts match the receipts and deposits.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"7\" data-aria-level=\"1\"><span data-contrast=\"auto\">Tracking the value of assets including unsold inventory and extra stock.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"8\" data-aria-level=\"1\"><span data-contrast=\"auto\">Making payments to vendors including utilities, suppliers, insurance companies, contractors, landlords, and financial institutions.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">If money is coming in and out of a company, it is the bookkeeper that controls it.\u00a0This is also why they manage your company\u2019s ledger as they have the most knowledge of what is being spent, what is coming in, and the bookkeeper will keep track of the fees being applied accordingly.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<h3 aria-level=\"3\"><span data-contrast=\"none\">Accountant Responsibilities:<\/span><span data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;335559738&quot;:320,&quot;335559739&quot;:80}\">\u00a0<\/span><\/h3>\n<p><span data-contrast=\"auto\">An accountant\u2019s job is to:<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Analyze the financial statements to produce recommendations on how to spend, save, or keep\u00a0cash flow\u00a0moving in the correct direction.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Guide\u00a0financial strategy for the company.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">File taxes, reconcile information and paperwork with the IRS and SEC, and represent the company during an IRS audit.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"auto\">Decide when it is time to cut\u00a0costs\u00a0and which costs can be cut to keep the company afloat.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\u25cf\" data-font=\"\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u25cf&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-contrast=\"auto\">Perform compliance audits to ensure legal requirements are\u00a0being met\u00a0for tax laws and industry regulations, or work with the CFO for\u00a0<\/span><span data-contrast=\"none\">Sarbanes-Oxley Act (SOX) and to apply Generally Accepted Accounting Principles (GAAP)<\/span><span data-contrast=\"auto\">.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">Your accounting team\u00a0is responsible for\u00a0anything involving financial\u00a0decision-making\u00a0including growth, hiring, downsizing, and future planning.\u00a0They manage anything that has a mix of legal with financial information including taxes and preparing paperwork for the executive team that goes public, and does assessments when you need to cut costs, increase efficiencies, and remain compliant with financial best practices.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<h2 aria-level=\"2\"><span data-contrast=\"auto\">When the Two Work Together<\/span><span data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;335559738&quot;:360,&quot;335559739&quot;:120}\">\u00a0<\/span><\/h2>\n<p><span data-contrast=\"auto\">While accountants handle taxes and bookkeepers manage tax deductions in payroll, the two are not as similar in responsibilities as they sound.\u00a0But they do have some\u00a0crossovers.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The first place they cross is when it is tax time.\u00a0Your bookkeeper runs your annual numbers to create\u00a0financial\u00a0statements\u00a0so your accountant can review and process your taxes.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Accountants will help you find ways to save money when you need a larger reserve for investing, hiring, or\u00a0adding\u00a0new benefits, and the bookkeeper will be able to quickly recommend the expenses that can be cut.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">When it comes to expensive equipment\u00a0purchases\u00a0and\u00a0<\/span><a href=\"https:\/\/www.nationalfunding.com\/blog\/a-guide-to-the-section-179-deduction-and-its-changes\/\"><span data-contrast=\"none\">deductions like Section 179<\/span><\/a><span data-contrast=\"auto\">\u00a0and\u00a0<\/span><a href=\"https:\/\/www.nationalfunding.com\/blog\/an-easy-guide-to-the-section-179-6000-lb-vehicle-rule\/\"><span data-contrast=\"none\">6,000 pound rule<\/span><\/a><span data-contrast=\"auto\">, your accountant will recommend whether you should use the deduction or depreciation while the bookkeeper makes the payments and applies the expenses and asset values in the books.\u00a0The same applies to financing it.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Your accountant will help you find the best\u00a0option\u00a0for\u00a0<\/span><a href=\"https:\/\/www.nationalfunding.com\/equipment-leasing\/\"><span data-contrast=\"none\">equipment financing<\/span><\/a><span data-contrast=\"auto\">\u00a0and\u00a0they\u2019ll\u00a0help you organize your financial paperwork to help with the application.\u00a0Once\u00a0approved,\u00a0your bookkeeper will add the money to your ledger and begin making payments based on the terms of the\u00a0<\/span><a href=\"https:\/\/www.nationalfunding.com\/small-business-loans\/\"><span data-contrast=\"none\">business loan<\/span><\/a><span data-contrast=\"auto\">.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Bookkeepers and accountants work\u00a0hand-in-hand\u00a0when it comes to your company\u2019s finances.\u00a0The bookkeeper makes sure everything is accounted\u00a0for\u00a0and your ledger is clean while your accountant uses this information to help you make decisions based on finances and for legal work like taxes.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"none\">National Funding does not provide tax,\u00a0legal\u00a0or accounting advice. This material has been prepared for informational purposes only. You should consult your own tax,\u00a0legal\u00a0and accounting advisors.<\/span><\/i><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335559738&quot;:195,&quot;335559739&quot;:195}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Small business owners should understand the difference between bookkeeping and accounting because each function is essential to making informed decisions.<\/p>\n","protected":false},"author":38,"featured_media":197401,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[88,98,188,104],"class_list":["post-197403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-health","tag-accounting-for-small-business","tag-accounting-tools-for-small-business","tag-bookkeeeping","tag-tax-deadlines-for-small-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What Is the Difference Between Bookkeeping and Accounting?<\/title>\n<meta name=\"description\" content=\"Both are finance, but bookkeeping is tracking and categorizing expenses while accounting is managing profits and taxes. 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