The Differences Between A Tax Agent, Bookkeeper, and Accountant

by Stuart Iles Partners Tax Consulting

A tax agent, bookkeeper, and accountant have their specific roles in the business arena, specifically in finance, though their roles distinctly different.

On hearing the names of these three professions, one might form a stereotype images but in reality, fundamental differences exist between these three professions. Understanding the distinct differences between these three roles is necessary to analyze how a bookkeeper, tax agent, or tax accountant will help to keep the business in track. Throughout Hobart, the tax agents, bookkeeper, and the accountants are an integral part of the business economy as well as
So, let’s take a closer look at each job description.

The Tax Agent

In clearer terms, the tax agents are the specialist accountants, an expert in the law, and the matters related to tax and compliance. The qualified tax agents in Hobart are registered following the rules and regulations of the Tax Practitioners Board. Hence, the professionals are licensed to provide the much-needed tax services to the business owners. The license they hold is renewed every three years.

The Bookkeeper

Bookkeeping is the allocation and processing of financial transactions. From the accountancy point of view, bookkeeping is the accounting platform where there is frequent overlap between accounting and role. The qualified bookkeepers handle the tasks like processing the invoices, handling the payroll, and paying the bills.

The Accountant

The accountants are basically meant to tackle the tax and compliance issues. In fact, the accountants ensure that the conducted budget allocations are perfect. They are even responsible for preparing and analyzing the reports. They ensure all the compliant requirements are judiciously met. The accounting profession is concerned with different expertise areas.

These expertise fields range from tax accountants, management accountants, company accountants, cost accountants, and financial planning accountants. Each accountant has a different role to play and the working environment is too different. Their skills help them to find a solution to different problems, so the commonality between them is the least. For instance, a tax accountant will probably have minimum information about the business accounts procedure.

As a business owner, you need to require either the services of an accountant, bookkeeper and tax agent for the financial future of your business. As far as the title accountant is concerned, it is a very broad term for accounting qualified professionals. But the tax agents are the accountants are registered by the Tax Practitioners Board, having the qualifications necessary and the specific insurances right in place.