accounting and book-keeping

Accounting and bookkeeping are essential financial practices that help businesses manage their finances effectively. Bookkeeping involves the day-to-day recording of financial transactions, such as sales, expenses, and receipts, ensuring that all financial data is accurate and organized. Accounting, on the other hand, is the process of analyzing, interpreting, and summarizing that data to prepare financial statements, tax filings, and reports. Together, these practices help businesses maintain financial health, comply with tax laws, and make informed decisions for growth and profitability