ACCOUNTANT VS BOOKKEEPER
Understanding the Difference between an Accountant and a Bookkeeper and knowing which one you need and when.
Most business owners recognise that an accountant and a bookkeeper both perform the essential tasks needed to manage the finances of a business.
Bookkeepers are generally more involved in the systems applied to the daily running of the business and accountants take the information provided by the bookkeeper to produce end of year accounts and tax returns.
The qualifications that are offered by the Institute of Certified Bookkeepers (ICB) enable bookkeepers to perform everything from maintaining the sales and purchase ledger accounts, all the way up to producing VAT returns and constructing management accounts. Accountants then take the records a Bookkeeper has produced during the year to devise tax strategies, business advisory services and auditing of the clients accounts.
Digit believes strongly that bookkeeping and accountancy are complimentary fields; the two professions work hand-in-hand with each other. Although there are times when the line between where the bookkeeper’s job ends and the accountant’s job begins can be blurred, when two professionals are working effectively together, the result is a streamlined approach to the finances of the business.
Digit produces high quality work, reducing the duties of the accountant. This results in savings on the annual accountancy bill.