| Aspect | Bookkeeping | Accounting | 
|---|---|---|
| Definition | Recording daily financial transactions | Analyzing, interpreting, and summarizing financial data | 
| Primary Purpose | Maintain accurate records | Provide insights, reports, financial statements | 
| Focus Area | Invoices, receipts, expenses | Profitability, planning, audit | 
| Nature of Work | Clerical & administrative | Analytical & strategic | 
| Skills Required | Basic knowledge of transactions | Accounting standards, taxation, analysis | 
| Tools Used | Ledgers, journals, Tally, Zoho Books | Financial statements, tax software, ERP | 
| Involves | Data entry, reconciliation | Profit & Loss, Balance Sheet, Tax Returns | 
| Compliance | Not compliance-focused | Ensures compliance with tax laws | 
| Output | Trial balance, daybooks, reconciliations | Financial reports, tax filings, audits | 
| Who Performs It | Bookkeeper, clerk | Accountant, CA, CPA | 
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