When running a business, it’s very important to have both a bookkeeper and an accountant on your financial team. I know that many think that if you have one you don’t need the other, or that they’re in fact the same role BUT I’m here to let you know why you need both.
In this episode, I’m explaining the differences and similarities between bookkeepers and accountants and the reasons you need both of them in your business.
A bookkeeper looks at tracking your financial transactions, records finances for events that have already happened, analyse financial data and gives you insights into your performance. An accountant does deep diving analysis to give you growth, taxation and structural advice and look after your income tax returns.
Your bookkeeper will look after the day to day running of your business and your monthly and quarterly BAS (or IAS reporting) reporting. Whereas your accountant (or tax agent) can give you taxation advice, structural advice and also help with audits, financial management advice, reporting and compliance.
Tune in to learn all about why you need both of these roles on your financial team to keep your business running smoothly and without any added financial stresses.
Previous episodes mentioned:
What is a BAS (and key areas to review)
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