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Bookkeeping vs Accounting: What’s the Difference? How Should You Choose?

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Regardless of what happens to that 20 dollars next, these transactions have started bookkeeping and accounting processes. But a lot of people are still confused when it comes to bookkeeping vs accounting. At LYFE Accounting, we’ve helped companies with their bookkeeping and accounting processes.

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Accounting Basics for Small Business Owners [By a CPA]

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But let’s first discuss why accounting is important. Why is Business Accounting Important? To understand why accounting is important, it is best to look at a simple example. This process is called bookkeeping. To learn more about bookkeeping, then read this post on “ Bookkeeping 101 for small businesses ”.