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We often confuse the meaning of bookkeeping and accounting. In reality, these two terms are similar but one is broader than the other.Business bookkeeping is the understood as the process of keeping transactions in the books. What it really means is writing in a book all transactions related to business operations on a daily basis: how much cash we have, how much we spend, how much people owe us, how much I owe to my suppliers and to the government. Recording assets and liability is more a concern of accounting.Accounting is broader and more complete than Business Bookkeeping in that it uses the information about all transactions to generate more detailed reports like balance sheets, income statements, etc.Nowadays we have available software that has made accounting work so easy that business bookkeeping has become a thing of the past. These new programs allow us to have information handy at any point in time and to analyze it.Accounting is nowadays more important than business bookkeeping because it is more broadly used by people in management to make decisions. Business bookkeeping is an implied part of Accounting and therefore it is still important. However, it is accounting the most used tool that helps managers to make financial decisions.Accounting helps a company to diagnose inconsistencies and identify trends in order to create strategic solutions to face the reality of the financial world of today.You may be wondering then, what is the use of business bookkeeping? Keep in mind that bookkeeping's mandate is to record, develop, prepare and organize the information gather from a business daily activities, it puts them together so that we can later use them when we need them.Bookkeeping helps accounting through the recording of business transactions in a chronological manner. Bookkeeping allow us to capture a company's events and prints them in book or an optical device. It is through Business bookkeeping that we mange to classify, organize, and register the operations of a company.