The difference between accounting and bookkeeping

Discover the difference between accounting and bookkeeping for your business. Simplify these tasks with a bunq business account. Start today!

December 6, 2023

Understanding the ins and outs of financial management can be daunting when you're starting a business. However, knowing the difference between accounting and bookkeeping is crucial for your financial success. Let's delve into how bunq can simplify these tasks for you.

What is Bookkeeping?

Bookkeeping involves recording daily transactions in a consistent way, which is vital to building a financially successful operation. It ensures that records of individual financial transactions are accurate, up-to-date, and comprehensive. With bunq's bookkeeping feature, you'll have an easier time managing this task.

What is Accounting?

While bookkeeping records transactions, accounting interprets, classifies, analyzes, reports, and summarizes this financial data. Accounting gives you insights into your business’s financial health, helping you make informed decisions. You can use bunq's Insights feature to get a clear view of your financial state.

How Do They Work Together?

Bookkeeping and accounting are two functions of financial management that work hand-in-hand. Bookkeeping lays the groundwork with solid record-keeping, while accounting uses this information to provide financial insights.

Why Choose bunq for Your Business Account?

Starting a business comes with its challenges, but managing your finances doesn’t have to be one of them. With a bunq business account, you'll have access to features that simplify bookkeeping and accounting. Plus, you'll enjoy instant payments, Bank Accounts, and easy budgeting tools that will keep your business running smoothly.

Conclusion

Understanding the difference between accounting and bookkeeping is key to running a successful business. With bunq's innovative banking solutions, you can easily manage both and focus on what matters most—growing your business. Ready to take control of your business finances? Start with a bunq business account today!

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Easy Card

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Get a free international credit card in less than 5 minutes. Add it to Apple/Google Pay and start making payments today.

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Easy Savings

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Get a free Savings Account and start growing your money faster with 3.36%* interest. No minimum deposit is required!

Easy Bank icon
Easy Bank

€3.99/month

Everything you expect from a mobile bank, and more. Open a bank account in just 5 minutes with your phone and ID.

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€9.99/month

Enjoy full control over your money wherever you go, with true borderless banking, easy budgeting, powerful cards, and much more.

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Easy Bank Pro XL

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