Hi Sunil,
CustomerService can be used to get information about individual accounts by setting the clientCustomerId in the request header or get the list of accounts directly accessible by the authenticated account If no clientCustomerId is specified in a request.
ManagedCustomerService on the other hand can be used to create new accounts, get the relationship between accounts and link/unlink a manager account and a client account. Please see this
guide for more details.
Regards,
Shwetha, AdWords API Team.