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As we've already explored in an earlier article, bookkeepers and accountants are considered essential to business ,despite people often not knowing exactly what it is they do – and referring to them as bean counters.
It is true that bookkeepers and accountants are intrinsically linked by the very nature of their work dealing with a company's figures. But there is plenty that one does, and the other does not.
Here, we explore the differences between them to help boost the understanding of both professions – and break down the bean counter stereotype!
As their name suggests bookkeepers are essentially tasked with looking after a company's books – which means they are the main set of eyes keeping a close watch on the firm's day to day figures.
Their main role is to keep an accurate and complete record of a company's finances, which is why they keep such a beady eye on all transactions. By following the finances so closely, bookkeepers are able to give a real-time update on any aspect of the company's numbers, whenever it is called for.
Their work is the first step in the accounting process.
An accountant's job is to analyse, summarise and interpret figures – supplied by bookkeepers – and use this information to make predictions, which is then fed back to their clients to help them plan for the short and long term.
Most accountants will have started their careers doing bookkeeping work and taken additional qualifications to move into accounting. There are differing levels of qualifications accountants can take, allowing them to specialise in certain areas.
What's the difference between the two? The main difference between the two roles is what they do with a company's numbers – bookkeepers record them, accountants analyse them.
Bookkeepers are the vital first step to keeping accurate, up to date figures – an essential element of any business no matter its turnover – while accountants represent the next stage of what can be done with these figures, to help a company plan for its future and predict trends.
At AMR we provide comprehensive bookkeeping services. Our qualified and experienced team can deal with large volumes of work for companies of all sizes.
What sets us apart is that alongside bookkeeping we also offer additional, complementary services, including payroll, credit control and auto enrolment, making us true experts in all areas of a company's first level finances.
To find out more about any of our services, or to discuss your bookkeeping needs, call our team on 01892 559480 or complete our contact form.