The difference between a Bookkeeper and an Accountant in 2 minutes!

Ask-Her Tax + Bookkeeping Inc.
November 26, 2021

The difference between a Bookkeeper & an Accountant, and what they can do for your financials.

THE BOOKKEEPER'S ROLE

You see a bookkeeper keeps or manages the company books. Here in Canada bookkeeper's don't require any official certificates. With that being said, a certificate in accounting software, eg, QuickBooks or Sage, is a plus. To become an expert in the bookkeeping field, one needs to be meticulous to detail, a stickler for accuracy and sound knowledge of key financial aspects.

Here is an example list of a Bookkeeper's tasks:

  • Financial recordkeeping
  • Processes payroll
  • Balances the general ledge
  • Sends invoices and records payments
  • Conducts bank reconciliations
  • Prepares & generates monthly statements
  • Prepares accounting books
  • Tracks income, expenses & transactions
  • Sustains and balances accounts
  • Posts debits and credits

THE ACCOUNTANT'S ROLE

An accountant's role is to account for, or explain what is in the financials, and inform the client of all tax related compliance. The title of accountant is generally a bachelor's degree and for those who don't have an accounting degree, professional Certifications are an equivalent substitute.

Here is an example list of an Accountant's tasks:

  • Files income tax returns
  • Financial forecasting
  • Performs audits
  • Tax planning & advisory
  • Initiates financial statements & reports
  • Analyzes cost of operations
  • Advises business owners in financials
  • Files personal & corporate tax returns
  • Reviews statements & account balances
  • Analyzes overall financial health


THE BOOKKEEPER & ACCOUNTANT AS A TEAM

These two roles work in tandem with one another, while managing and using financial data. Without well-organized books from the bookkeeper, you accountants will be unable to produce analytical evaluations and interpretations.

A bookkeeper will look to their accountant to provide a clear idea of information to be entered and a designed structure for efficient record keeping.

ABOUT US

Here at Ask-Her Tax™ + Bookkeeping Inc., our bookkeepers are highly skilled professionals, collaborating with our accountants, and while working as a team, we are able to do the accounting for you. Providing your business with a thorough set of financial skills and services, while keeping you audit ready.

We do hope you found this small post helpful and if there is anything you would like us to clarify, or would like some help with your Bookkeeping & Accounting needs, just Ask-Her!

Thank you / Milgwetch
President / CEO
Shelilia Vivier

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