We all know that owning a startup, being an entrepreneur and working for the success of your business can be a physically tiring task, but other tricky things like the finances and the long process of recording all of your business progress can be much harder.
This is where accountants and bookkeepers come in to help you with your finances. Both have their very own roles and differ in some basic stuff. Many entrepreneurs often get confused between an accountant and a bookkeeper, that is why in this article, we’ll discuss some basic differences between these two, and see how they can work together to benefit your business.
If you own a business, You may already know how difficult it is to cope with the customers, retaining the quality of your services, and keeping everyone happy. In all this hustle, you much also keep a good look at your finances and record every bit of it. You can hire and accountant or a bookkeeper (or both) for this task.
Accountants have the following responsibilities.
- Giving you some valuable business advice.
- Taking care of all the legal stuff related to your business.
- Preparing other financial statements.
Accountants are certified and affiliated individuals, they obtain their degrees and become members of a statuary association.
Bookkeepers are well skilled individuals fully eligible to do work on different financial parts of your business. But their main role include organizing the data, regularly recording it and reporting everything back to you to give you a realistic view of your business.
A bookkeeper might also do these tasks.
- They can train you to do all the accounting work yourself.
- Make inventory management system to help you organize your business.
- Developing POS systems to record all the daily transactions.
The good thing with hiring a bookkeeper service is that it’s much cheaper, effective and easier. You can visit some popular bookkeeping sites like Shmunky bookkeeping to get the best services in the industry.