Do you need a Bookkeeper or an Accountant?

First let me give you a short description of what each specialist does in their capacity.

A Bookkeeper mainly documents and maintains records of transactions. This is usually on a daily, weekly, or monthly basis. They perform general financial functions. An Accountant usually has a higher education, normally at least a bachelor’s degree. They are skilled in analyzing and interpreting documentation of transactions and producing from the information gathered, meaningful data. Accountants can create budgets and forecasts for your business. Of course an owner’s input is highly regarded and needed to create a successful plan. A bookkeeper does data entry of invoices from and to vendors and clients. They maintain accurate recordings of the business. However, for more private functions, such as payroll, an accountant would be preferred. Accountants will be able to file IRS documents and produce tax specific reports. A bookkeeper maintains the ins and outs of a business but an accountant will handle reconciliations of bank accounts, review the general ledger for accuracy, and produce the “financial package” needed to keep the owner(s) up to date on the solvency of his/her business.

Don’t overthink it. Give Small Books a call and together we can decide exactly who and what you need to aid in your business success. Let’s make a Big Impact on your business… starting today!