We tend to consider bookkeeping and accounting as the same thing if we are unfamiliar with the intricacies of both functions. But as a business owner, you need to realize that bookkeeping and accounting are two entirely different functions. To decide which professional is suitable for your business, you must first understand the primary difference between an accountant and a bookkeeper.
What is a Bookkeeper?
A bookkeeper is responsible for keeping the books of the business by handling the day-to-day paperwork. This includes recording income and expenses, and reconciling bank accounts.
Some bookkeepers can also help the business with managing the payroll functions and filing VAT returns. Often the owner will handle minimal transactions during the early stages of the business, but as the business grows and becomes more complex, hiring a bookkeeper becomes more important. [Read more…] about Accountant vs Bookkeeper: What Do They Do for a Small Business?
