It’s pretty common to use these two terms interchangeably, but the reality is that bookkeepers and accountants actually do separate things—and you need both.
Common bookkeeping services include:
- Creating financial transaction databases
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Processing payroll
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Managing and paying accounts
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Checking reports for accuracy
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Reporting data management irregularities
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Invoicing customers
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Reconciliation of accounts
On the other hand, an accountant works with data, reconciles it, and creates reports that explain events.
Common accounting services include:
- Managing balance sheets
- Reconciling trial balances
- Reviewing income statements
- Creating custom financial reports
- Providing audit support
- Coordinating with a tax CPA for tax planning