Today is

By: Uchenna Ani-okoye

Bookkeeper or Accountant

The new business owners is an individual that has no prior experience with bookkeeping or accounting and may sometimes become a little confused with what is required by these job titles. If a business owner does not know the difference between an accountant and a bookkeeper, there is a good chance that they could end up being charged a lot more than they should. By know exactly what a bookkeeper and accountant does, they would be better able to choose the right person for their business needs.

A bookkeeper is basically someone who keeps all your books. You give them the payments and invoices and they will enter them into a book so that you will have a firm understanding of where your company is at from a financial perspective. It’s solely up to the owner of the business to give all the invoices and receipts to the bookkeeper so that he or she can keep accurate books. The bookkeeper’s responsibility is to keep your books and not be accountable for financial legal associations, IR assessments and anything else outside of doing the calculations and keeping your books in order.

The accountant has the same responsibilities as a bookkeeper only, he or she also has the responsibility of ensuring that your finances exist within the realm of cooperate law and tax laws. An accountant would have a lot more experience than a bookkeeper and so will be able to give you advice on where to invest your money, what to do to get an improved bottom line, and how to improve the financial base of your company.