Most people who run businesses know that bookkeepers and accountants provide financial services for entrepreneurs — but what’s the difference?

Both deal with helping you make faster, smarter business decisions. I know it may seem excessive (and expensive af) to have a bookkeeper and accountant because these services ain’t cheap – but trust me, they are both super important. Stay with me here.

Bookkeeping is more of an administrative position focused on recording financial transactions. Accountants give you business insights based on a bookkeepers information.

Here are some of the major services each role provides:

Bookkeeper Accountant
  • Recording financial transactions
  • Posting debits and credits
  • Creating invoices
  • Maintaining and balancing subsidiaries, general ledgers, and historical accounts
  • Completing payroll
  • Preparing company financial statements
  • Analyzing the costs of operations
  • Completing income tax returns
  • Aiding the business owner in understanding the impact of financial decisions

Keeping your financial information organized and balanced is just common sense — if you aren’t doing this yet, you need to start. That ain’t even my real tip for the day!

#Chika’sTaxTip: If you don’t have extra funds to hire out or purchase software, do your own bookkeeping. The easiest way to start is to open an excel or google worksheet.  You may think of it as a pain in the ass, but it’s such an important step for all business owners. Keeping track of your books will only lead to more money in the end. Don’t doubt your pretty self – you run your own effing business, so of course, you can do the bookkeeping!

I would suggest using a tax professional such as a certified public accountant (CPA ) to help you file your returns and increase your refund potential. If you are strapped for cash, there’s nothing wrong with using the free Turbo Tax software.  

To read more on how a bookkeeper or accountant can help you maximize your coin, check out Quickbook’s short article on the subject.

With Love,

Chika

adsfasdfasdfasdfasfd

asdfsafadfadfasdfasdf

Pin It on Pinterest

Share This