Bookkeeping vs Accounting: What's the difference? How should you choose?

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  • Опубликовано: 25 окт 2024

Комментарии • 36

  • @StevenDonald2
    @StevenDonald2 Месяц назад +156

    Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich.

    • @MaryBarbara7Z
      @MaryBarbara7Z Месяц назад

      I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such execution are usually carried out by investment experts with experience since the 08' crash

    • @JamesWilliam8
      @JamesWilliam8 Месяц назад

      The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.

    • @JamesWilliam8
      @JamesWilliam8 Месяц назад

      NICOLE ANASTASIA PLUMLEE' is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.

  • @trulythrivinglives
    @trulythrivinglives 3 года назад +15

    When I u said, “Oh no, what am I gonna do now!?” Had me rollin cause i know that feeling when my new product line isn’t moving like I thought it would.

    • @LYFEAccounting
      @LYFEAccounting  3 года назад +2

      Aww thanks, im going to use more jokes now :)

    • @pinkrainbowkennelz1640
      @pinkrainbowkennelz1640 2 года назад +1

      That's exactly why I'm watching this video. My heart sunk when he said that
      😬🤪

  • @elianasmith6330
    @elianasmith6330 11 месяцев назад

    I watch this video over and over. So much information in this video - thank you for this.

  • @neneb5232
    @neneb5232 3 года назад +12

    Life saver! Thank you!!! I think accounting is better for any business. And I was about to go to school for bookkeeping. I'm glad I found your video first. God bless.

  • @Shanaevaz
    @Shanaevaz 3 года назад +11

    Booking keeping🥰🥰🥰🥰🥰 can't wait to open my business in November

    • @majorpromotion6018
      @majorpromotion6018 3 года назад +2

      Wish you the best

    • @1976kookiemama
      @1976kookiemama 2 года назад +1

      @aisha haidara Yippee. I'm with you. I can't wait to get my business going. Good luck.

  • @letsgoviral777
    @letsgoviral777 9 месяцев назад

    I kept wanting to answer the phone! lol PHENOMENAL video. Thanks.

  • @joniutley1914
    @joniutley1914 3 года назад +6

    Both are very important!

  • @SayWho73
    @SayWho73 Год назад +1

    Yes they are both important

  • @Dagrizzb
    @Dagrizzb 3 года назад +3

    I will either pursue a career in bookkeeping or accounting. Dont know which I want to do. I keep a real close look on my finances, and checking for everything spent. My sheet is constantly balanced. Suggestions?

  • @KeranSmith
    @KeranSmith 4 года назад +5

    Really clear explanation and examples!

  • @normanocampo4466
    @normanocampo4466 2 года назад +1

    I think the MOST important is the MICRO views of your Financials because it shows the DETAILS of your spending, there is a saying that " A small leaks can SINK a ship" meaning that small spending can be LETHAL to your business because it ADDS up to your expenses. I am NOT an expert but for me seeing the detail that is where the DEVIL is. Correct me if I am wrong.

  • @sofiyak
    @sofiyak Год назад +1

    Never seen a job posting for bookkeepers with 0 experience/ no education.

  • @XYRN02
    @XYRN02 3 года назад +4

    Can you do a video about Quickbooks…?

  • @mrmultiskill7281
    @mrmultiskill7281 2 года назад

    Thank you

  • @MrsChase2U
    @MrsChase2U 2 года назад

    What type of bill paying?

  • @nickolenaturcotte3540
    @nickolenaturcotte3540 3 года назад +1

    Thank y so much

  • @sergioramos3437
    @sergioramos3437 Месяц назад

    Has anyone read the "for dummies" book keeping and accounting books ? Considering picking those up and reading through them a little bit at a time

  • @latuaho3423
    @latuaho3423 3 года назад

    super helpful thank you

  • @juansutton5465
    @juansutton5465 3 года назад

    Hello!
    Do you do past year book keeping such 2019?

    • @LYFEAccounting
      @LYFEAccounting  3 года назад

      Yes! Absolutely, please contact our team: lyfeaccounting.com/contact-us/

  • @cevahirlacin9118
    @cevahirlacin9118 2 года назад

    you can't manage it if you can't measure it...

  • @wendydaniels8618
    @wendydaniels8618 3 года назад +2

    Most of the videos from Lyfe Accounting are really good and spot on, but I have to respectfully disagree with so much in this one. From the rate range that's quoted to the training needed, to the tasks performed by Bookkeepers, none of this information is fully accurate. I've been a Bookkeeping Professional for 24 years and have never charged my clients or paid my employees as little as $10/hr. The attention to detail and the clear grasp of Accounting and financial principles requires at least an associates degree or the equivalent in training to be a good Bookkeeper. There is just so much more I could say, but this video needs to be revamped.