Bookkeepers and accountants sometimes do the same work, but have a different skill set. In general, a bookkeeper's role is to record transactions and keep you financially organized, while accountants provide consultation, analysis, and are more qualified to advise on tax matters.

Bookkeeping involves the recording, on a regular basis, of a company's financial transactions. With proper bookkeeping, companies are able to track all information on its books to make key operating, investing, and financing decisions. Bookkeepers are individuals who manage all financial data for companies.

Bookkeeping is a part of accounting. Only financial transactions which can be expressed in terms of money are recorded. Thus, accounting enables stakeholders to know the financial position of an entity for the period. It is concerned with summarizing of the recorded financial transactions.