Bookkeeper vs. Accountant: What's the Difference and Does Your Business Need Both?

“Don't I already have an accountant?”

It's a common question when business owners consider professional bookkeeping.

Bookkeepers and accountants can both play important roles in a company's financial ecosystem, but their responsibilities aren't necessarily the same.

Understanding the difference can help you build the right support team.

What Does a Bookkeeper Do?

Bookkeeping generally focuses on maintaining the ongoing financial records of the business.

Depending on the engagement, this can include:

• Recording and categorizing transactions

• Reconciling bank accounts

• Reconciling credit cards

• Maintaining financial records

• Accounts payable support

• Accounts receivable support

• QuickBooks management

• Preparing regular financial statements

Bookkeeping is ongoing.

Your company's financial activity doesn't happen once per year, so maintaining organized books shouldn't either.

What Does an Accountant or CPA Do?

The specific services provided by accountants and CPAs vary based on their qualifications and engagement.

They may provide services involving tax preparation, tax planning, accounting, audits or other specialized areas.

The important point is that having a tax professional doesn't necessarily mean someone is managing your day-to-day bookkeeping every month.

Why Businesses May Need Both

Think about your company's financial support as a team.

Your bookkeeper helps maintain accurate ongoing records.

Your CPA or accountant may provide specialized accounting or tax services.

Those functions can complement each other.

Consistent bookkeeping can also mean better-organized information when your accountant needs it.

Where Does SBC Fit?

SBC Bookkeeping & Consulting is a bookkeeping company.

Our primary relationship with business owners is ongoing Bookkeeping & Consulting.

That distinction matters.

We aren't trying to position bookkeeping as tax preparation, investment advice or a fractional CFO service.

Instead, SBC Bookkeeping & Consulting combines professional bookkeeping with access to experienced consultants who can help clients better understand their financial information.

That may include support involving reporting, budgeting, forecasting, cash flow, profitability or capital readiness.

Build the Right Financial Team

The question doesn't have to be:

“Do I need a bookkeeper or an accountant?”

The better question may be:

“Who needs to be on my financial team?”

If your business needs ongoing bookkeeping plus experienced consulting support, SBC Bookkeeping & Consulting is ready to help.