What is the role of a Bookkeeper?
Cash flow in a small business is what we live by and accurate record keeping is the key to decision making and future growth plans.
So why use a bookkeeper over an accountant, or be your own bookkeeper. After all the role of bookkeeper is to generate data about the activities, daily, monthly and yearly of the business, keep track of purchases, receipts, sales and payments all culminating in a trial balance of matching debits and credits. What they or you can’t do though is turn that data into information.
How can an Accountant help you?
Accountants look at the whole picture, not just focusing on what’s happening now. The data provided by the bookkeeper is used in the generation of financial reports, tax returns, income statements and balance sheets. The accountant’s role is to analyse the data, turning the information into business forecasts, providing details of opportunities for growth as well as the most critical element, keeping tax’s at a minimum.
Handling your finances and your financials with a DIY approach can be cost effective at the beginning, but a growing business needs the backup of people who do what they do best, so you can concentrate on the daily running of your business worry free.
TJD Accounting Services
319 Keilor Road