The Difference Between a Bookkeeper and an Accountant – And Why Small Businesses Need Both
As a small business owner, managing your finances can feel overwhelming. If you’ve ever wondered about the difference between a bookkeeper and an accountant, you’re not alone. Understanding their roles can help you make better decisions for your business.
What Does an Accountant Do?
Accountants handle the broader financial needs of your business, including:
Preparing and lodging tax returns.
Offering financial advice and strategic tax planning.
Ensuring compliance with Australian tax laws.
Typically, accountants step in during tax season or when significant financial advice is required.
What Does a Bookkeeper Do?
A bookkeeper manages the day-to-day financial operations of your business, ensuring everything runs smoothly. As your bookkeeper, I offer:
Transaction Management: Tracking income and expenses and reconciling bank accounts.
Financial Reporting: Creating clear and timely Profit & Loss Statements and Balance Sheets to provide insights into your business performance.
BAS and IAS Lodgements: Keeping your business compliant with the ATO’s reporting requirements.
Payroll Services: Including Single Touch Payroll (STP) compliance, superannuation calculations, and timely payments for your employees.
QuickBooks or Xero Setup and Integration: Complete setup services, including bank feeds, customised invoices, charts of accounts, payroll, and more.
Budgeting and Forecasting: Helping you plan for growth and make proactive financial decisions.
Accounts Payable and Receivable Management: Ensuring your cash flow stays organised.
Employment Contracts: Drafting clear, compliant agreements for your staff.
Bookkeepers are your go-to partners for maintaining accurate and up-to-date financial records, giving you real-time insights into your business's performance.
Why Small Businesses Need Both
Bookkeepers and accountants complement each other perfectly. While bookkeepers focus on your daily financial operations, accountants use that data to provide high-level advice and manage tax compliance. Together, they form a powerful team that keeps your business running smoothly.
Why Choose My Bookkeeping Services?
At Book Sense Business Services, I specialise in helping Australian small businesses succeed with tailored bookkeeping solutions. My services include:
BAS and IAS Lodgements: Ensuring timely submissions to the ATO.
Payroll Services: Including setup and processing for QuickBooks or Xero, Single Touch Payroll compliance, superannuation calculations, and regular payments.
QuickBooks or Xero Setup: Seamless integration with custom features such as bank feeds, branded invoices, and payroll.
Financial Reporting: Accurate Profit & Loss Statements and Balance Sheets delivered promptly.
Budgeting and Forecasting: Advisory services to help you grow your business.
Accounts Payable and Receivable Management: Simplifying your cash flow.
Employment Contracts: Drafting and customising agreements to meet your needs.
With over nine years of experience as a tax accountant and a commitment to supporting small businesses, I offer accurate, reliable, and approachable bookkeeping services that make managing your finances simple.
The Book Sense Difference
As a small business owner and local mum, I understand the challenges of juggling your responsibilities. That’s why I provide bookkeeping services designed to save you time, reduce stress, and empower you to focus on your business’s growth.
Let’s Work Together
Looking for expert bookkeeping services that include QuickBooks or Xero setup, BAS lodgements, payroll, and superannuation payments? Visit Book Sense Business Services today to learn more about my tailored solutions. Together, we’ll build a bookkeeping system that works for you.
