Starting a Business: Bookkeeper vs Accountant

So, you have taken the plunge and started your own business. You are an expert in your industry, you are generating an income and you are working your own hours. Well done – this is a credit to your courage, dedication, and hard work.

Most business owners are passionate about doing what they love, and this is one of their reasons for starting a business. Yet, motivation can dip when doing mundane tasks – such as recording transactions and filing receipts (unless, of course, bookkeeping is your business niche).

Every business has a bookkeeper, whether this is outsourced, or you are balancing the books yourself. It is also necessary for all businesses to have access to an accountant to ensure tax compliance.

Here is a quick guide about the different tasks of bookkeepers and accountants.

Bookkeeper vs accountant.

· Organises all receipts, invoices, and other transactions.

· Records and reconciles transactions on to bookkeeper software.

· Day-to-day support for business owners to understand the numbers.

· VAT analysis / returns.

· Preparing financial information for business startup loans and grants.

· And much more . . .

Accountant vs bookkeeper

· High level business advisory service.

· Audit and produce the management and final accounts.

· File tax returns.

· Produce official reports.

Even though bookkeepers and accountants have separate roles, they complement each other’s roles and work closely together to support your business.

If you are ready to get the best out of your business, you can find some experienced bookkeepers and accountants on the Xero Advisor Directory or contact us for a chat.

We wish you lots of good luck on your business journey.