When you have some data regarding your business transactions, you record that data somewhere, usually in a software, or maybe even on raw paper. This is called Bookkeeping, recording of business transactions data such as invoices, payment receipts, payroll and more.
After you’ve been entering data for a month or perhaps a quarter (lear about Accounting Periods here), you can generate some reports based on that data, like Profit & Loss Statements, Cash Flow Statements, Balance Sheets, Receivables & Payables. This beautiful art of making beautiful reports that help a business make decisions is called Accounting.
HysabOne can be considered as a bookkeeping software as it lets you Create Invoices, Create Quotations, Record Debit, Credit Transactions in General Ledgers.
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