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Do I need a bookkeeper if I have an accountant? What’s the difference?
Contrary to popular belief, accountants and bookkeepers perform distinctly different tasks for the businesses they serve. Bookkeepers are responsible for on-going maintenance of their clients’ general ledgers. A bookkeeper’s common responsibilities consist of:
· Compiling data on a daily basis
· Categorizing expenses in the general ledger
· Reviewing the general ledger for accuracy
· Reconciling bank statements against the general ledger
· Generating financial statements
Accountants use the accurate and up-to-date general ledger maintained by the bookkeeper to provide advisory services, such as:
· Analyzing the company’s financial data
· Preparing income tax returns
· Providing tax planning advice
