When looking for accountancy services, you have two options: basic bookkeeping and full-service accounting. It is important to understand the difference between the two when looking for the best bookkeeper for your needs.
While bookkeepers and accountants tend to do a lot of the same work, an accountant can provide additional services relating to your finances, including strategic financial plans.
The main differences lie within their credentials and the level of education that they have had. For instance, bookkeepers do not need to have any sort of formal education. An accountant will often oversee their work as well.
For someone to receive the title of an accountant, they will typically need to have an accounting degree, which should be to a bachelor’s level at a minimum. Finance degrees are often deemed an adequate substitute for those who do not have a specific accounting degree.
If you are hiring a bookkeeper, the objective of the service is for all transactions at your business to be kept in a systematic format, making your forecasting and end-of-year taxes a lot easier.
With accounting, the objective here is to determine your financial situation, helping you to make improvements. From ensuring your taxes are filed correctly to finding any irregularities with your business’ finances, an accountant can play a pivotal role when it comes to the growth of your business.
So there you have it: an insight into the differences between basic bookkeeping and full-service accounting. We hope this has helped you to understand which option is right for you.
Thanks for taking the time to learn more about our services, we hope you have found this post informative. Visit www.kissmybooks.com to learn more about our bookkeeping, tax return, and other services. If you have specific questions about Kiss My Books or would like to schedule an appointment visit us online at www.kissmybooks.com or call today at (925) 344-9667.