What is the difference between QuickBooks accounting and bookkeeping services?
The accounting software QuickBooks offers a variety of features for efficient management of accounts and finances. The striking services of the accounting software include bookkeeping, accounting, payroll, etc. A common person may fail to understand the differences between them, but an accountant knows and understands the scientific importance of each of them. The popularity of the accounting software QuickBooks has opened new career aspects for many individuals.
The most popular form is that of a QuickBooks Desktop Proadvisor. A person from any background of education can gain skills to become a ProAdvisor of the accounting software. However, it is essential to learn the basics of commerce before setting one’s foot for gaining the degree of QuickBooks ProAdvisor. The hosting of the software comes with the essential services of the QuickBooks Accounting Assistance team. The team is responsible for looking after the issues and queries of the client. Let us look at the differences between the services of accounting and bookkeeping offered with QuickBooks.
Definition of Bookkeeping & Accounting
As per the definition of the two the bookkeeping services cover the tasks of identifying, measuring, and recording of the financial transactions. Whereas the accounting services of the software are involved with the process briefing, understanding, and creating a channel of communication of the financial transactions that were performed with a concerned account. This is a major difference between the two services that every QuickBooks Desktop Proadvisor should be aware of.
Help in the process of making decisions
Critical decisions for the successful growth of a business often rely upon thorough research performed with the available data. The bookkeeping services offered by the accounting software does not play a significant role in making a decision. While the accounting services cover the creation of various reports with crucial real rime values helping in taking a well-researched decision by the management committee. Thus, the accounting services offered by the application software QuickBooks plays a vital role in the decision-making process of a business organization.
Objective of the two processes
Learning the objective of the two processes will help you in understanding the fundamental difference between bookkeeping and accounting. The primary motive behind the process of bookkeeping is to keep a proper and systematic record of all financial transactions. On the other hand, the primary motive of the process of accounting is to understand the capacity of the financial situation and use this information for taking some crucial decisions leading to the progress of a business organization. Hence the accounting software QuickBooks offers the process of keeping a systematic record of financial transactions under Bookkeeping and gauging the financial situation under the accounting services. When faced with any sort of confusion regarding the working of the accounting software one can avail of the service of QuickBooks Accounting Assistance team.
Making of Financial Reports
Financial reports play a vital role in forecasting the growth of a business organization. Using the reports, the CPAs along with the management committee judge the different sectors that need investments and disinvestments for reaching a higher level of profits in the business. While the bookkeeping services offered by the accounting software QuickBooks does not involve any sort of reports the accounting services can be used to create and develop different financial reports with a focus on relatively important parameters for the business organization. Hence the accounting services of the application software QuickBooks are more vital than the bookkeeping services when it comes to making reports.
Types of Services
The bookkeeping services of the accounting software covers both the single entry and double entry services. The two kinds of bookkeeping processes are mainly how business organizations perform the activity of bookkeeping. While the services of accounting by the application software is more concerned with reports, budgets, and decisions of loans.
With the introduction of the application software QuickBooks and other accounting software, the differences between the two process is diminishing regularly.
The focus remains on account over the two. Hence the common name of such software application is accounting software. A QuickBooks Desktop Proadvisor will help the business organization on selecting the appropriate version of QuickBooks. While the user can also consult the QuickBooks Accounting Assistance team for an appropriate edition.
