We all know bookkeepers and accountants are both involved in handling finances, but sometimes, people confuse them for being the same. Well, here’s the thing – they’re similar but also different. How?
Bookkeepers are more likely responsible for making transactions, recording expenses, and noting down every cash flow. On the other hand, accountants focus on providing tax guidance and financial advice to business owners and individuals.
Bookkeeper Vs. Accountant Comparisons
In general, bookkeepers are closely involved with a company’s daily operations, including:
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General ledger recordings
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Master documentation
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Financial statements
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Balance sheets, etc.
They are also responsible for recording business or individual debits, credits, and bills.
Accountants, however, have an important role to play during tax season. Individuals can rely on accountants and their expertise for help with the following:
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Tax liability
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Auditing
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Tax-filing error
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Loans
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Financial performance, etc.
In short, accountants in Epsom are your trusted financial advisors, especially during a business’ seeding phase. They can help with planning forecasts, creating budgets and business plans, and also advise you on interest rates.
They can take a bird’s eye view of your finances, helping you make sophisticated decisions about your taxes, investments, and financial planning. Accountants can also help you with interpreting compliance commitments.
Do You Need Bookkeepers or Accountants?
It can be tricky to determine if you need a bookkeeper or an accountant. Epsom residents and business individuals should first consider their needs and decide which route to go with. In any case, David Beckman & Co Ltd can be fantastic for those looking for financial help from experts.
Don’t know the difference between a bookkeeper and an accountant? Epsom residents can find out more about the two in this post.
