Bookkeeping focuses on recording transactions accurately. Accounting interprets financial data for decision-making. Bookkeeping is about the day-to-day tracking of finances. Accounting involves analysis and reporting for financial insights.

A bookkeeper is responsible for recording financial transactions, maintaining financial records, and ensuring accuracy in financial documentation for an organization or business.

Payroll processing involves calculating and distributing employee wages, salaries, and benefits. It includes tasks such as tracking work hours, applying deductions, and ensuring compliance with tax regulations.

Quarterly estimated taxes are payments made by self-employed individuals, freelancers, and businesses to the IRS on a quarterly basis. These payments represent estimated income tax and self-employment tax liabilities for the current tax year. They help taxpayers avoid underpayment penalties by ensuring that taxes are paid throughout the year rather than in a lump sum at tax filing time.

Tax organization involves gathering and organizing all relevant financial documents and records needed for tax preparation, such as income statements, expense receipts, and investment statements. Tax submission refers to the process of filing tax returns with the appropriate tax authorities, such as the IRS in the United States or HM Revenue & Customs in the UK, by the required deadline.