What is the difference between keeping a cashbook and doing bookkeeping?
submitted by Warner Brandes

kenneth

A cashbook is your record of cash only. Bookkeeping is like the full financial record that covers everything from sales to expenses. It would include transactions that are cash or credit. It's bigger and more detailed.

shure

A cashbook is where you'd keep track of every time you get or spend cash. Just cash related stuff in there.

Bookkeeping is more comprehensive. It includes tracking all kinds of transactions, whether it's cash related or not.

frankensteins piano

A cashbook is just a record of cash receipts and payments, focusing on actual cash transactions. You get paid cash, put it in the cash book. You spend cash, put it in the cash book.

Bookkeeping, on the other hand, involves recording all financial transactions of a business. It doesn't care if it's cash or credit. It's the record of the company's money, so it needs to track all kinds. So, while a cashbook is part of bookkeeping, bookkeeping is broader. Bookkeeping also involves preparing financial statements.

The word "bookkeeping" also has three sets of double consonants, which is weird.