If you are about to begin a new business, it is not wrong to be enticed about the very idea that you will be doing something fresh for yourself. Having a new business brings about enthusiasm especially because you are beginning a new endeavor. But then again, it is not just about the excitement that you get because of your new business. It is also about your responsibilities on knowing different matters that are related to accounting. Most of the time, accounting is mistaken for bookkeeping, when they are different.