Do I Need a Bookkeeper or an Accountant?
Do I Need a Bookkeeper or an Accountant?
Picture this: You finally achieve your dream of ditching the status quo and becoming your own boss. Welcome to the CEO club, my friend.
But instead of enjoying your free time celebrating your successes, you are slapped in the face by the reality of spending hours upon hours frowning over your expenses and trying to figure what all this tax stuff is about. Although your passion for your product or service sustains a stable income, the whole bookkeeping side of things has you doubting if being a “girl boss” was all you imagined it to be.
You know the financial management side of things is important. But does the idea of handling this side of your business confuse or just straight up bore you?
Here’s the good news, ladies: Bookkeepers and accountants are here to help you spend less time on the boring parts of your business and more time on those glamorous CEO moments you’ve been daydreaming of.
You may be wondering, what is the difference between an accountant and a bookkeeper?
Here’s the DL.
What is the difference between an accountant and a bookkeeper?
They both deal with the numbers.
Accountants and bookkeepers share an expertise in finances. They strive to support your business by handling the numbers so you can focus on the aspects of your business that you love. Both are knowledgeable and experienced professionals and a MAJOR asset to your small business.
Bookkeepers
Let’s talk about the keepers of the books (me!). Bookkeepers are involved in the consistent documentation and organization of all daily or weekly financial information within your business. This includes payroll, expenses, profits, and billing.
Accountants
You can count on accountants to come in later during tax season. They interpret and analyze this logged information and give expert advice on where and how you should regulate your money for ultimate success and growth. Accountants are experts on tax laws and can ensure your small business complies with legal standards that you never knew were there.
How are they qualified?
Accountants attain a bachelor’s degree in accounting or finance, and bookkeepers often receive the same degree or can just be excellently trained through hands-on experience in the field.
What is the value in hiring one or both?
One of the benefits of hiring a bookkeeper is that they tend to have lower rates than accountants. But both save you time and money. Bookkeepers keep your finances tidy throughout the duration of your business year so that when the time comes, accountants can easily approach the situation to help you make the best financial decisions –– no clean-up crew necessary! Basically, we’re all here to help you avoid the hot mess express.
If this is still confusing, think of a bookkeeper as a helper who keeps you afloat every day, compared to someone who swoops in at the end to save the day. While the task is achieved either way, maintaining a tidy ledger will leave you stress-free all year long.
Have no fear, ladies. Reaching this point of success in your business is worth celebrating. Don’t let the finance part make you forget why you created your business.
Your time is valuable.
Outsourcing the work you dread to number-nerds like bookkeepers and accountants will release you from the financial stresses, allowing you to spend your time pursuing the dream that drew you into the industry in the first place.
If you’re ready to start living your best CEO life, send me a message!