Everyone knows they are different roles but outside the profession who knows which is which? In this article we will explain what the roles are and how they are linked.
If you break down the word book keeper it pretty much says they keep the books. This means they ensure that all books/ledgers are kept accurately and reflect the incomings and outgoings of a business. So, what does this actual entail for the modern bookkeeper?
To avoid upsetting bookkeepers and accountants alike there are some tasks that can be done by both. This is often up to the discretion of the firm and/or the relationship to you the client.
Once the bookkeeper has done the day-to-day records accountants then analyse this data and report on it.
DO I NEED A BOOKKEEPER OR AN ACCOUNTANT?
Short answer you likely need both. For more detail on if you need an accountant click here.
But here are some common issues that you may only need one for.
Do you feel a bit lost on what you are doing with the books but would like to do it yourself. – ask you accountant to train you and your team
If you want to make the most of your financial reporting – talk to both and see who you prefer to do what task
Are you having issues coping with the daily transactions and are often falling behind. – hire a bookkeeper
If you are a limited company and need to file statutory accounts. – hire an accountant and look above
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