Accounting is a process of recording, reporting, and analyzing a company’s financials. Bookkeeping is the recording part of the accounting process, in which the business financial transactions are entered into a database.  Both Accounting and Bookkeeping are essential for every business organization; it’s because they can deal with financial data and generate reports using financial transactions. Besides, both these processes have their own set of advantages. The major misconception regarding Accounting vs Bookkeeping is that…