Have you ever wondered what the difference between a Bookkeeper and an Accountant is?
A bookkeeper is the person who is across the business accounts on a more regular basis (this could be daily or weekly) as their job is to process the day-to-day transactions. This may include bank reconciliations, payroll, invoicing, GST returns, processing supplier invoices and reconciling supplier statements, and chasing late payers the list is endless.
An accountants are normally the ones to ask about business structures, as there are tax implications for each. They can set up companies and partnerships and help companies to meet their reporting requirements. They can analyse the business's financial reports, discuss with you its financial health and viability, and advise you on how to improve business performance. Accountants look after your income tax and ensure you meet your tax obligations.
Both a bookkeepers and an accountant can act as intermediary between you and the IRD which can be very helpful, they normally have different roles to play with IRD.
Bookkeepers often learn on the job, an accountant holds a degree and spend years at University.
Both a bookkeeper and an accountant are important part of a business as they have different roles to fill. Ideally, the bookkeeper and an accountant work well together for the benefit of their mutual client.
A bookkeeper is the person who is across the business accounts on a more regular basis (this could be daily or weekly) as their job is to process the day-to-day transactions. This may include bank reconciliations, payroll, invoicing, GST returns, processing supplier invoices and reconciling supplier statements, and chasing late payers the list is endless.
An accountants are normally the ones to ask about business structures, as there are tax implications for each. They can set up companies and partnerships and help companies to meet their reporting requirements. They can analyse the business's financial reports, discuss with you its financial health and viability, and advise you on how to improve business performance. Accountants look after your income tax and ensure you meet your tax obligations.
Both a bookkeepers and an accountant can act as intermediary between you and the IRD which can be very helpful, they normally have different roles to play with IRD.
Bookkeepers often learn on the job, an accountant holds a degree and spend years at University.
Both a bookkeeper and an accountant are important part of a business as they have different roles to fill. Ideally, the bookkeeper and an accountant work well together for the benefit of their mutual client.