It is a fact that entrepreneurs want to handle all the work responsibilities on their own so they can hire fewer people will taking more work from a small team. It becomes very difficult to justify whether they should hire a financial helper or a bookkeeper.
The invention of QuickBooks has raised illusion in the minds of people that they can do the work without the help of bookkeeper with depending on the software available in the market for financial matters.
Who do you need; a Bookkeeper or Accountant?
Hiring accountant gives assurance to people about balancing the official work. There is a simple situation that would first help you to understand the importance of both a bookkeeper and an accountant for financial matters. You cannot cook the food without fire and there is no use of the fire if the ingredients of the dish are not there. In the same way, bookkeeper and accountant are important for the company.
An accountant is important because he gives a strategic business advice based on the analyses the overall financial condition of the company. He works to make the statements of profit-and-loss and also works on the taxes of company. The advice by accountant includes securing the credit line of the new products.
On the other hand, a bookkeeper is a workforce that performs day-to-day responsibilities such as monitoring that the new employees are submitting the right documents for the payroll. She/he also makes sure whether the employees have paid the bills or not. Tracking all kinds of expenses and making …Read More