Frequently Asked Questions
What is the difference between a bookkeeper and an accountant?
A bookkeeper records and classifies a company's daily financial transactions such as sales, payroll, payment of bills, etc. They focus on accurate business record keeping.
An accountant builds on the information provided by the bookkeeper. They analyze, review and interpret the financial information for the company. They turn the records into reportable data that is used for the company's decision making.
When should I contact a bookkeeper?
As soon as you start your business. A bookkeeper does the day to day hands-on tasks of the business such as hiring employees, payroll, submitting invoices, collecting money, paying the bills and proper record keeping. This allows the business owner to focus on other things such as building and growing the business.
When should I contact an accountant?
As soon as you start to think about starting a business. An accountant can help you set up your business correctly so you can avoid mistakes that could cost you time and money to fix later.They can help develop a strong business plan, give you advice and direction, help with preparing and filing your business and personal taxes. An accountant can also provide help when buying, selling, merging or closing your business.