Talking Cents

A Business Accountant Or A Bookkeeper: Which One Do You Really Need?

Contrary to belief, a business accountant and a bookkeeper do different things. Sometimes, they are used interchangeably because they are able to do similar tasks. But, there are tasks that a bookkeeper cannot do while a business accountant can as they are more qualified. Then again, you wouldn’t want to hire an IT person to be the cashier because in this scenario, yes, they will be able to get the job done but their potential is not being maximised. For a business, every cent counts so you probably want what's best to make sure there is efficiency. So, let’s start with knowing the difference between a business accountant and a bookkeeper because more times than not, you’ll need one or the other.

What Can A Business Accountant Do For You?
For most people, a business accountant equates to taxes and while this is true, they are also capable of completing other tasks. For the most part, business accountants can do the majority of your business’ auditing tasks to make sure that your business is following the laws and regulations. They can also play an advisory role, providing you with recommendations and advice on your financial performance and how you can improve on it. As they are usually crunching down numbers, they can see the trends and can forecast the direction your business is heading down which helps prevent any pitfalls before it happens.

What Can A Bookkeeper Do For You?
Bookkeepers are usually known as general ledgers. Primarily, they are responsible for recording transitions and managing the payrolls. For small businesses, this may seem unnecessary but it helps you focus on other things that may need more direction.

Which One Does Your Business Need?
Sometimes, businesses may choose to hire both a business accountant and bookkeeper so they can play at their strengths which maximises productivity. But, if you’re a small business and don’t feel like there’s a need for it then we can't particularly tell you which one you need because you know your business better than anyone else. To know what your business needs, you need to dedicate some time to reassess your position to see what the deep-rooted problem is that needs to be solved.

Small Business Looking For A Business Accountant?
Things can be confusing and overwhelming when you’re trying to juggle everything with just two hands. We totally understand how you would feel, that’s why we’re reaching out to you and lending you a helping hand. If you are a business owner based in Sydney and are looking for a local small business accountant, look no further. With M.A.S Partners in the picture, so much financial weight can be lifted off your shoulders. We are dedicated to making your life easier so an investment in us is an investment in your business. To speak with our team of small business accountants in Sydney about the services we offer and what we can do for you, call us on (02) 9211 5000 or visit our website at https://www.masaccountants.com.au