Accountant or Bookkeeper or Both?

Small-scale businesses need a keen tracking of both, expenses as well as cash flows. Business owners need to guarantee that their finances are being handled properly which is inclusive of recording the transactions as well as processing of data. There are basically two different types of helpers which can help in this regard: An Accountant and a Book Keeper. With this, there is also a dilemma that most small businesses face: whether you need an accountant or a book keeper or both!

To ease things out, let us see what the difference between the work of an accountant is and how it differs from bookkeeping work.

•    Firstly an accountant is a person who keeps the financial records of both, a business and/or of an individual.  Moreover, he/she is skilled in accounting practices and is in charge of private or public accountants.
•    Secondly, Bookkeeper is a person who keeps the financial records for a business. 

Keeping this in mind, now you need to consider what the benefits of both are. Following are some advantages of both, a bookkeeper and accountant:

•    Firstly, External bookkeeper may offer some really important insight into your business’ financial situation. The insight may or may not be positive. In either ways it is you as a business owner, who will be helped.
•    Secondly, an expert bookkeeper can provide expert help for he or she is well-versed in the business trend/ industry you are following.
•    Thirdly, the bookkeeper acts as a watchdog to your commercial establishment and always looks out for means to save you from excess expenditure.

Next, let us now see, what benefits, the hiring of an accountant helps the business:

•    First of all, a specialized accountant keeps the business owner to remain updated about payments, business expenditure, bookkeeping and financial development.
•    Secondly, taxes and the procedures related to them are often not only tedious but also confusing especially if you are new to the industry. Hiring an accountant usually enables you to keep your paper works filed, helps in matters of tax.
•    Thirdly, accountants can advise you on the investment matters and thus, mentor on financial decisions. Moreover, accountants help you better run your business.  In case of new business owner, an accountant might be able to offer priceless strategic and planning instructions on how you should set up your business, whether its structure is proper. This is done to ensure that your commercial establishment is financially steady.

Since, an  accountant  is capable of performing bookkeeping functions and if you are looking for an Accountant for Bookkeeping in London, Accounts Direct is definitely your catch.

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