What is the difference between Book Keeping and Journal?
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Answer:bookkeeping and accounting are both essential business functions, there is an important distinction. Bookkeeping is responsible for the recording of financial transactions. Accounting is responsible for interpreting, classifying, analyzing, reporting and summarizing financial data.
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in journal we record financial transactions for the first time as n when they appear. book keeping is the process wherein transactions are classified in order to identify the errors. journal is the first phase of entry system
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