What is the difference between bookkeeping, accountancy, and auditing?
Bookkeeping is the data entry and reconciliation of your accounts. Basically what you need to do in the early part before you start looking at the year-end compliance or even auditing.
Accountancy is the concept behind which we do the bookkeeping, the overall debits and credits is bookkeeping.
Auditing is looking at your accounts and seeing whether they represent a “true and fair” opinion of the business/accounts