It might seem redundant to have both a bookkeeper and an accountant for your business. But there are important reasons to have both on your team. Each brings a different skill to the table, working together to help you grow your business.
Your bookkeeper works in your books on a weekly to daily basis, meaning they know everything that goes on. Because your books would be up to date, your financial statements will show you exactly what is going on. You will be able to make better decisions for your business, leading to more growth. A niche-specific bookkeeper can also give you industry advice, having worked with similar setups.
An accountant may be the first person you speak to when starting your business. They can help you with both tax planning and the best way to grow your business. Also, because they are tax-pros, they are the ones who will help you come tax time. This process will be a lot faster and easier when you also have a bookkeeper involved. If you get audited, your accountant will be able to prepare the report and help you through the process.
You can get the benefits of both an accountant and bookkeeper in one person, but this isn’t usually the case. With each focusing on their specific skill, this means you have two experts on your team. Here are some budget tips if you’re worried about affording a bookkeeper.
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