There are many differences that can help distinguish between a bookkeeper and an accountant. However, as there are many similarities, there is a certain level of confusion that can accompany the two at times. Here are the top 4 differences between a bookkeeper and an accountant:
1. Basic Responsibilities
When it comes to basic responsibilities for both of these positions, the biggest difference is the category. The reason is that being a bookkeeper is actually a part of the accounting category of business. A bookkeeper’s basic responsibilities include tracking all of the transactions of a business.
This means keeping a record of all of the receipts, checks, and payments that have been made to different merchants, employees and money received from clients. Everything involving money in a business goes into this record. An accountant, however, has a more generalized financial position.more information found on the website http://bookkeeperco.com.au/
Part of their job is to review what the bookkeeper has set forth to ensure accuracy. They are responsible for putting all of the information together for the company’s accounts so that all of the necessary paperwork and records are in the right place and in an organized fashion.
In regards to the paying of employees by payroll, many companies opt to have them done through their financing office. This means that bookkeepers are actually responsible for paying the employees out of the client’s accounts and keeping a record of the payments in the general ledger. An accountant, however, would not be paying them directly unless the client specifically requested it. They would be supervising and ensuring that there are no payment issues coming from the employee’s end of the system. They are responsible for making sure that everything runs smoothly.
3. Education Required
Many times, people say that you have to have a bachelor’s degree in order to be successful. While this is the case in a lot of jobs, this is not the case with bookkeepers. Bookkeepers can actually have and maintain great jobs without having a bachelor’s degree. Any additional education past high school is a great asset but not required for this position, making it available to a new range of people who normally would be shut out of this job market.
An accountant’s job, however, does require a bachelor’s degree and can sometimes require even more than that. Because an accountant is a financial manager, they need to have all of the knowledge and resources to help the bookkeepers and other financing staff to keep everything in order for the company.
Leadership is definitely more of a part of the accountant’s role than it is part of the bookkeeper’s role. An accountant must know how to lead and direct a team of people in such a way that deadlines are met and that everything is taken care of for the company. This can also be a strenuous position as the finances of the whole company are basically in their hands. The bookkeeper provides a crucial support role to the accountant and ensures that all of the transactions are recorded so that there are no disputes or audits later on come tax season.see latest news on this page.
Both bookkeepers and accountants have incredibly valuable positions within a company. Whether you choose to work in either position, you are sure to have a great deal of success with the right knowledge and resources at your fingertips.