These Are The Differences Between Accounting And Bookkeeping

Lots of people who do not understand and assume if accounting is the same as bookkeeping. The thing is actually different. Even so, the two are related to each other where the beginning of accounting activities is started from bookkeeping activities. Not only that, accounting and bookkeeping have the same financial information data source within the company bookkeeping services. Although different, accounting and bookkeeping have a close relationship and are an integral part. bookkeeping services will act as the basis of the accounting process and if the bookkeeping process is done in the right way, the accounting process will be perfect.

What really distinguishes accounting from financial accounting? Differences in accounting and bookkeeping can be easily understood by knowing the meanings of each. Bookkeeping is a systematic, complete printing process of monetary transactions in an organization. Bookkeeping is an activity to safeguard each entity’s financial transactions to form a basic reference in the accounting process. The purpose of bookkeeping is to provide a clear picture of income and expenditure at the end of the accounting period. Bookkeeping assignments are usually carried out by bookkeepers. The bookkeeper is in charge and responsible for recording every business transaction whether it is cash, goods, selling and buying transactions and then records it into a ledger and then prepares it into the trial balance. To find out more, here are the activities carried out by financial accounting:

Publish invoices to customers.
Record invoices from suppliers.
Record changes in inventory.
Record cash receipts from customers.
Pay suppliers.
Process petty cash transactions.
Process salary/payroll.

Meanwhile, accounting is a business language that provides information about financial status in a company starting from recording transactions and making financial reports at the end of the period. In accounting, the monetary transactions of a company will be systematically recorded and grouped depending on the type of transaction then summarized and displayed to the company in an adjusted form. The following are activities carried out by accountants:

Make a list of accounts.
Preparing the Ledger.
Design financial statements.
Publish management reports that are tailored to specific issues.
Make a budget and compare it with the actual results.
Make tax reports etc.

Things That Make Condos Different From Apartments

Condos or commonly called condos are from English, namely condominiums. This word itself is a combination of Latin, namely con which means together or joined, and dominium which is ownership or control. From this meaning, it can be taken to mean that condominiums, like the ones from Wilshire Residence, are ownership of buildings together.

The apartment is a vertical residence that is rented by the owner to another person. The occupant has the right to stay but does not have the right to rent or even sell it to others without the knowledge of the owner.

Meanwhile, condominiums are apartments whose functions are to be sold and owned by each occupant. The owner has the right to inhabit, rent, and sell it to others.

What are the different forms of building a condo with an apartment?

Although both are vertical occupancy, the shape of the buildings both has differences. The shape of a condo building is usually equipped with only two or three towers, like the Wilshire Residences showflat. While apartment buildings are in parallel with other towers.

The facilities are also different. Usually, condos provide luxurious facilities, such as a large swimming pool, fitness center or gym, spa, sauna, and others. While the apartment has limited facilities.

What is the Condominium management system?

If you have an apartment, you need to promote your apartment for tenants. Not with a condo. It’s because the function is indeed for sale, the management of this residence is carried out more professionally by the building management, just like the good condo from the Wilshire Residence.

What is the cost and cost of maintenance of the Condominium?

It’s almost the same as private home maintenance financing, all forms of condo financing have been carried out and taken into account at the outset. Owners no longer pay monthly fees such as parking fees or other jointly owned facilities. So, do not be surprised if this residence does have a much more expensive sale or purchase price.