What is the difference between bookkeeping and accounting?
Bookkeeping records transactions. Accounting interprets those records to help you make decisions and file taxes.
A bookkeeper categorizes expenses, reconciles bank accounts, and makes sure your books are accurate and up to date. They handle the day-to-day data entry and monthly close.
An accountant or CPA takes those clean books and prepares tax returns, gives you financial advice, handles audits, and helps with business strategy. They need accurate books to do their job well.
Most small businesses need both. A bookkeeper keeps your records current throughout the year. Your CPA uses those records to file taxes and give you advice on minimizing what you owe.
You can’t skip bookkeeping and expect your accountant to figure it out at tax time. That costs more and usually results in missed deductions because nobody documented things correctly during the year.
More Questions
What does a bookkeeper do?
A bookkeeper records transactions, reconciles accounts, categorizes expenses, and produces monthly financial statements so you know where your business stands.
Read answerHow long does bookkeeping cleanup take?
Most cleanups take two to four weeks depending on how many months you're behind and how messy the books are.
Read answerCan I do my own bookkeeping?
You can do your own bookkeeping if your business is simple and you have time to learn. But most owners who try end up with messy books that need professional cleanup.
Read answerDo I need a bookkeeper?
If you're spending hours on your books, falling behind on monthly close, or making decisions without real numbers, you probably need a bookkeeper.
Read answerHow much does bookkeeping cost?
Monthly bookkeeping starts at $199. Your actual price depends on transaction volume and business complexity.
Read answerWhat records do I need to keep for my business?
Keep all receipts, invoices, bank statements, and contracts. The IRS requires documentation for every business expense you deduct.
Read answerDFW's Trusted Bookkeeping Firm
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