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A common question is whether there is any difference between accounting and bookkeeping. We will begin with bookkeeping, since it is essentially a subset of the larger topic of accounting. Bookkeeping is the recordation of basic accounting transactions, such as:

Issuing invoices to customersRecording invoices from suppliersRecording cash receipts from customersPaying suppliersRecording changes in inventoryProcessing payrollProcessing petty cash transactions.
#kathleen^solving ;)
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