Do I Need a Bookkeeper or an Accountant?

Many small business owners wonder whether they need a bookkeeper, an accountant or both.  While these roles work closely together, they provide different services and support your business in different ways.

What does a Bookkeeper do?

A bookkeeper manages the day to day financial records of your business.  Their role is to keep your accounts organised, accurate and up to date.  A bookkeeper can help with:

* Recording income and expenses
* Bank reconciliations
* Payroll processing
* Accounts payable and receivable
* BAS preparation and lodgement
* Xero, MYOB and accounting software support
* Maintaining accurate financial records

By keeping your books current, a bookkeeper helps you understand your business's financial position and ensures your accountant has accurate information when it's time to prepare tax returns and financial statements.

What does an Accountant do?

An accountant can assist with:

* Tax returns
* Financial statements
* Tax planning strategies
* Business structure advice
* Compliance and reporting requirements
* Business growth and financial planning

Accountants often rely on accurate bookkeeping records to complete their work efficiently and accurately.

Do I need both?

For many small businesses, the answer is yes.

A bookkeeper helps keep your financial records organised throughout the year, while an accountant uses that information to provide tax and financial advice.  Having both professionals working together can save time, reduce stress and help you avoid costly errors.