What is the difference between an accountant and bookkeeper?

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The purpose of an accountant and bookkeeper is often confused.  We are often seen as rivalries, the truth is we aren’t. Although there is some overlap, the reality is that an accountant and bookkeeper are two vital roles that a successful business needs to have in order to grow.

What is a bookkeeper / BAS Agent?

Bookkeepers are instrumental in the ongoing financial upkeep of your business. They will ensure your business financials are up to date, accurate and reconciled correctly.  A bookkeeper will

  • Process invoices, receipts, payments, and other financial transactions
  • Process and maintain your payroll system
  • Prepare initial financial statements
  • Reconcile accounts and prepare reconciliation reports
  • Manage your accounts receivable and accounts payable, i.e. amounts owing by debtors, and amounts owing to creditors
  • Calculate GST
  • Prepare and lodge your BAS

What is an accountant?

The role of an accountant is often more advisory and analytical in nature. An accountant through analysis of past performance can offer financial projections and advice on future financial elements of your business. This includes:

  • Taxation advice and planning
  • Business establishment assistance
  • Auditing
  • Corporate reporting and compliance
  • Superannuation fund advice
  • Financial management advice

The BYBB difference

Bookkeeping Your Bizzy Bizness (BYBB) is different to your average bookkeeper, in addition to the traditional bookkeeping services, we also offer business advice into how to improve your business, training on QuickBooks Online and rescue work. All backed by Lauretta Finis, one of Australia’s leading experts on QuickBooks Online

Contact us today to see how BYBB can help you get back on track.

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