What's the Difference between a Bookkeeper and Accountant?
Bookkeepers tend to work in a more administrative sense--recording and filing financial transactions. Where as Accountants then work subjectively--using the recorded information and financial reports to help the business owner make strategic decisions to better manage finances, or identify areas of concern or growth. Maintaining proper financial records and monitoring the business' standing helps business owners stay in compliance, and also promote business growth. It's important to monitor the flows of any business' expenses and income--but the importance of this role takes on a whole new meaning when we're talking about small businesses. When you're working with an already limited budget and narrow profit margins, staying on top of your expenses is one of the most important responsibilities of owning a business. Missing even a minor red flag could in fact, put your business in the red if your not careful. That's where bookkeepers and accountants come in to make small business operations run smoother, and help owners gain peace of mind regarding their business finances.