People usually misunderstand an accountant with a bookkeeper. Although, there are many significant differences between both of them, but they are usually considered as one person. This is a common misconception because both of them are used to help people in their financial issues. Both of them are used to manage money-matters and have inevitable roles in assisting a business. Some of their duties also overlap. Here are some key differences between both of them which you should be aware of.
These both persons are needed to run your business smoothly and efficiently. But the records that are provided by the bookkeepers are used by accountants to make financial reports of the business. Your accountant will be the one who will be giving you necessary instructions and directions about steering your business to a favorable path. He will have all the information about your business data and figures which are vital for your firm’s success. He can assist you in making all your critical financial decisions. However, your bookkeeper calculates your finances and accounts and computes the GST. He/She is assigned to manage payroll accounts and process other payments. He/She also has the task to design the whole accounting system which will be used by him/her and the accountant. But both of them are equally important for the prosperity of any enterprise.
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