You’ve heard it time and time again: “Accurate bookkeeping is necessary for business health.” This isn’t meant to come off like a scolding finger-wag. Bookkeeping is simply a foundational aspect of running a business and should be regarded as such.
Bookkeeping and accounting are inherently different, though the two practices share similar implications.
Accountants typically focus on preparing and processing statutory returns, giving advice on legal structures, and offering their expertise on general finances.
Bookkeepers, on the other hand, tend to focus on maintaining financial organization, recording and reporting on business transactions, and providing detailed statements that reflect the health of a business. Bookkeepers have been expanding the scope of their expertise to include things like developing and reviewing internal business processes and employing other technologies like document management and inventory control to improve overall business efficiency as well.
When you work with a seasoned bookkeeper who knows the ins and outs of accounting software, you’re able to hand off the financial grind over to the pro and focus on doing what you do best – running your business.
So, why should you care if your bookkeeper works with the latest accounting software technologies?