Difference between Aqeeqah and Qurbaani

Qurbaani is compulsory (waajib) upon every baaligh and sane Muslim who is not a musaafir and who possesses wealth which equals the nisaab amount of zakaat during the days of Qurbaani (i.e. he possess the nisaab amount of zakaat or more after deducting all liabilities and debts and after excluding all necessary items of use e.g. house, car, cutlery, clothing, etc). The days of Qurbaani are the 10th, 11th and 12th of Zil Hijjah.

Qurbaani is not compulsory upon non baaligh children even though they possess wealth that reach nisaab. Aqeeqa is carried out for a child when he/she is born. Aqeeqa is mustahab provided one has the means to carry it out. The Aqeeqa of a boy is two sheep (or goats) and the aqeeqa of a girl is one sheep (or goat).

And Allah Ta'ala (الله تعالى) knows best.