What is the difference between a bookkeeper and an accountant?
Basically a bookkeeper helps you manage the businesses day to day financial needs, including debtors, creditors, assets and liabilities. A good bookkeeper will provide you with the financial reports you need to manage your business finances on a day to day basis while keeping the records accurate and up to date.
An accountant is interested in the broader picture, will often offer strategic advice, tax advice and planning, and prepares the businesses annual tax return.
A trained and qualified bookkeeper will often save the business money at tax time. The accountant can focus on the big picture if the financial information they receive is done correctly.
With these 2 professionals on the team, a business owner can concentrate on what he does best knowing that the financial reporting for the business has been taken care of.