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+--- Thread: What is the difference between billing and accounting? (/showthread.php?tid=129801)
What is the difference between billing and accounting? - MARK558 - 07-08-2025
Billing and accounting are closely related but serve different purposes in business finance. Billing refers to the process of generating invoices and requesting payment from customers for goods or services provided. It focuses on tracking sales transactions and ensuring timely payments. On the other hand, accounting is a broader function that involves recording, classifying, and summarizing all financial transactions, including billing, expenses, and payroll. Accounting provides a complete financial picture of a business, helping with budgeting, reporting, and compliance. While billing is a subset focused on revenue collection, accounting manages overall financial health and decision-making. hill climb racing old version