Recently I was feeling rather generous and made a post on Facebook.
‘So I’m feeling happy and generous today …. anyone got some burning bookkeeping question’s they would like answered??’
The questions that resulted from this post was a result of this misconception of Bookkeepers Versus Accountants. Now, Don’t get me wrong, I am an Accountant, but I am not a tax accountant, nor am I operating as one.
Many individuals mistakenly consider bookkeeping and accounting to be the same thing. This confusion is understandable because the accounting process includes the bookkeeping function, but this is just one part of the accounting process.
The bookkeeper is responsible for ensuring all transactions are recorded in the correct way, suppliers ledger, customer ledger and general ledger.
The Accountant creates reports from the recorded financial transactions recorded by the bookkeeper and files forms and liaise with government agencies. They also provide you and your business with fundamental advice, hopefully, throughout the year, if not at the end of the financial year, to help grow your business.
There is obviously a cross over between the bookkeeping and accounting role, such as general knowledge as to what you can claim, if you are using a registered BAS agent, they may know the answers, but not always. So be very careful as to who you rely on for solid advice and reliable reporting.
If you are yet to find yourself a great Bookkeeper or Accountant, I do recommend you contact us at JLH!
If you have any questions, feel free to email me at firstname.lastname@example.org