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What is book-keeping?
Book-keeping is an important part of thebusiness. It is the count of your expenses and returns you make in your business. A good quality book-keeping makes a businessman analyze revenue and spending one item at a time. Small business owners prefer book-keeping rather than hiring accountants, thus, it saves a lot of money.
What is accountancy?
Often known as the ‘language of business,’Accountancy is the communication, processing and measurement of economic entities of a financial institution. It is the process of counting the financial transactions of a company.
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Advantages of book-keeping-
1. Book-keeping is the hard copy of various transactions as all the transactions can’t be stored in the memory of a person.
2. Book-keeping acts as a proof in court in thecase of legal matters.
3. Book-keeping helps in accumulating loan from abank as it is the only proof of how a business runs.
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