Accountant or Bookkeeper: Which One Do You Need? 

Accountant or Bookkeeper: Which One Do You Need? 

Business owners are often hiring the wrong people for the wrong job. Let’s break down when you need an accountant, a bookkeeper, and administrative support. 

What Does an Accountant Do? 

If your business is incorporated, your accountant prepares your year-end tax filing, gives you advice on reducing your taxes through proper tax planning, and completes the financial reports you may need to share with banks, investors, and other external stakeholders. 

Your accountant is responsible for year-end reporting and giving you high-level financial advice. 

What Does a Bookkeeper Do? 

Your bookkeeper keeps your day-to-day financial records up to date. They help keep your books clean, so you always know how your business is performing. 

A good bookkeeper should have access to an accountant or enough experience to understand the rules and identify ways to help reduce taxes. They’re also the person who helps keep your business and financial records up to date. 

Monthly financial reports should give you a clear picture of how your business is performing. If you’re not getting them, it’s worth taking a closer look at your bookkeeping. 

Keeping Your Financial Obligations Current 

Your bookkeeper also makes sure your source deductions, GST, PST, WorkSafe, and other regular filings are up to date. Every one of those filings has to be kept current as part of your day-to-day operations. That’s all part of keeping your business current. 

Where an Administrative Professional Fits In 

Some businesses handle administrative work in-house, while others choose to outsource it. Either approach can work, depending on the needs of the business. 

An administrative professional might collect employee hours, help with customer billing, answer phone calls, and take care of your day-to-day office administration. Those day-to-day tasks help keep the business running. 

What’s Next? 

Next, we’ll go through the life cycle of your business and look at what your accounting, bookkeeping, and administrative support should look like at each stage. 

If you’re not sure whether you have the right people handling your accounting, bookkeeping, and administrative work, it’s worth having that conversation before your business grows further. 

Please note: This content is for general information purposes only and does not constitute personalized accounting, tax, or financial advice. Reach out to us to book a personalized consultation based on your business and financial situation.  

Business owners are often hiring the wrong people for the wrong job. Let’s break down when you need an accountant, a bookkeeper, and administrative support. 

What Does an Accountant Do? 

If your business is incorporated, your accountant prepares your year-end tax filing, gives you advice on reducing your taxes through proper tax planning, and completes the financial reports you may need to share with banks, investors, and other external stakeholders. 

Your accountant is responsible for year-end reporting and giving you high-level financial advice. 

What Does a Bookkeeper Do? 

Your bookkeeper keeps your day-to-day financial records up to date. They help keep your books clean, so you always know how your business is performing. 

A good bookkeeper should have access to an accountant or enough experience to understand the rules and identify ways to help reduce taxes. They’re also the person who helps keep your business and financial records up to date. 

Monthly financial reports should give you a clear picture of how your business is performing. If you’re not getting them, it’s worth taking a closer look at your bookkeeping. 

Keeping Your Financial Obligations Current 

Your bookkeeper also makes sure your source deductions, GST, PST, WorkSafe, and other regular filings are up to date. Every one of those filings has to be kept current as part of your day-to-day operations. That’s all part of keeping your business current. 

Where an Administrative Professional Fits In 

Some businesses handle administrative work in-house, while others choose to outsource it. Either approach can work, depending on the needs of the business. 

An administrative professional might collect employee hours, help with customer billing, answer phone calls, and take care of your day-to-day office administration. Those day-to-day tasks help keep the business running. 

What’s Next? 

Next, we’ll go through the life cycle of your business and look at what your accounting, bookkeeping, and administrative support should look like at each stage. 

If you’re not sure whether you have the right people handling your accounting, bookkeeping, and administrative work, it’s worth having that conversation before your business grows further. 

Please note: This content is for general information purposes only and does not constitute personalized accounting, tax, or financial advice. Reach out to us to book a personalized consultation based on your business and financial situation.