The Difference Between Bookkeeping And Accounting Services in Canada

When we think of bookkeeping and accounting services in Canada, both are an important part of managing your money. At first glance, the two may seem quite similar, but there are some key differences.

Bookkeeping focuses on recording and organizing financial statements. But accounting is the interpretation and presentation of that data to business owners and investors. Bookkeeping typically consists of payroll, invoicing, receipts and bills, recording business transactions. Accounting consists of financial statements and reports, budgets, tax returns, analyzing business performance, etc.