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They reconcile financial documents such as bank statements.
Bookkeeping vs accounts payable. There is often a misconception that bookkeeping and accounting are the same thing. The two types of accounts are very similar in the way they are recorded but it is important to differentiate between accounts payable vs accounts receivable because one of them is an asset account and the other is a liability account. Bookkeepers track accounts payable and accounts receivable so the business knows how much it.
In accounting confusion sometimes arises when working between accounts payable vs accounts receivable. Bookkeepers record purchases and sales. Accounts receivable and accounts payable are essentially opposites.
Accounts payable is the money a company owes its vendors while accounts receivable is the money that is owed to the company. The account notes payable is a liability account in which a borrower s written promise to pay a lender is recorded. Home bookkeeping understanding accrued expenses vs.
The main difference between these careers is that a bookkeeper may be the main accounting professional in a smaller company while an accounting clerk may be responsible for just one specific type. Difference between bookkeepers and accountants. The lender record s the borrower s written promise in notes receivable generally the written note specifies the principal amount the date due and the interest to be paid.
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