What Is the Distinction Between Accounting and Bookkeeping? | Forum

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Freshwater Tax
Freshwater Tax Dec 26 '21

 Several business owners who really have no accounting or bookkeeping expertise may be puzzled by the terms in each job description. Knowing the difference between an accountant & a bookkeeper allows a business owner to select the services that are best for them and their company's needs.


A bookkeeper, by definition, is someone who keeps your books. You provide them the invoices and payment information, and they input the statistics into a book to give you an accurate & easy financial picture of the firm. It is the responsibility of the business owner to send all receipts and invoices to the bookkeeper in order for the books to be kept accurate.


The bookkeeper will just keep your books and will not be held responsible for tax assessments, financial-legal relationships, or anything else other than completing the arithmetic and keeping your accounts straight.


An accountant, on the other hand, has the same responsibilities as a bookkeeper, but they also have the responsibility of ensuring that your accounts comply with all tax regulations and corporation law. The accountant has more expertise than the bookkeeper and can advise you on how to invest your money to improve your bottom line an create a more solid financial foundation for your company.


An accountant has a four-year bachelor's degree in their area and more experience and competence than just taking numbers from receipts and invoices. The CPA firm or candidate is in charge of all financial returns, tax savings, and a variety of other duties.


Our team of CPAs and tax specialists at Freshwatertax has over 20 years of expertise in tax, accounting, audit, and financial services. Every member of our CPA Brandon FL firm specializes in a distinct area of taxation, accounting, or auditing.


We take pride in our services & ability to acquire the knowledge and expertise required to meet the unique demands of our corporate and individual clients. Contact us at1-917-744-1175 for a free consultation.