What is the difference between Bookkeepers and Accountants?
I called a prospective client today and this reply is all too common, "thanks but I already have an accountant"
There are differences between bookkeepers and accountants, and there can often be confusion surrounding this, but any business requires both bookkeeping and accounting. Bookkeeping is the foundation of accounting and while there is often an overlap between what bookkeepers and accountants do, it’s not a matter of choosing one over the other. We work seamlessly together.
Bookkeepers are generally across the business accounts on a more regular basis than accountants, as their job is to manage the day-to-day financial applications of the business. At the end of the financial year, they hand over a tidy set of accounts to the accountant, while working with the client during the year.
Having a great bookkeeper involved makes the job of an accountant a whole lot easier, as they take what the bookkeeper has done, as well as make required year-end adjustments for things such as home office expenses, and prepare tax returns and financial reports.
Anything income tax or business structure related is usually the domain of an accountant, with one of their responsibilities making sure you are meeting your tax obligations. They ensure that the business’s accounts accurately reflect the position of the business, and that you are claiming everything you are legally entitled to.
You did not go into business to be a bookkeeper right? But, I did and that is what I am great at. You on the other hand are great at what you do in your business. I have studied for a number of years, have a degree, and you get this experience brought to your business. A great bookkeeper gets to know you and your business, becomes a highly valued member of your team and helps you and your business grow and that is where I get the greatest satisfaction.
At Beyond Your Numbers, we pride ourselves on our work and the outcomes this provides you the client and us as a team.
Contact Leah today to find out more about how we can help you in your business now.
