Bookkeeper vs Accountant

For bookkeeping purposes, clients are responsible for responding to their bookkeeping professional in a timely manner; working with the professional by ensuring that all financial accounts are communicated and/or integrated with accounting related software.

Tip! Be honest and avoid commingling funds because it is undesirable for an accountable professional to have to sort through clients’ personal transactions. Oh, and last but not least…pay invoices on time!

Bookkeeping

✅ Recording and categorizing financial transactions

✅ Posting debits and credits

✅ Producing and sending invoices

✅ Maintaining and balancing subsidiaries, general ledgers, and historical accounts

✅ Completing payroll

✅ Record-keeping

Accounting

✅ Preparing adjusting entries

✅ Completing income tax returns

✅ Financial analysis and strategy

✅ Tax strategy and tax planning

✅ Financial forecasting