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Is there a Difference between an Accountant and a Bookkeeper?

The time has come to hire a financial professional to help with your small business. But, how do you know which type of services that you need? There are many possibilities that are available, and it is important that you understand the service differences before making your decision.

Even though the terms “bookkeeper” and “accountant” are often used as synonyms, you need to know that these are two different services:

Small Business Bookkeeper

A bookkeeper is there to help with the daily, weekly and monthly tasks related to managing your business financials. Their responsibilities are focused on tracking the transactions that come through the company. These transactions might include things such as payments, invoices, receipts, and sales.

Most small business bookkeepers will utilize an online bookkeeping software. The advantage of this system is that you can hire a remote outsourcer instead of bringing in a full-time employee. Also, you will be able to run bookkeeping reports from any location to see more about the financial health of your company.

The goal with bookkeeping is to improve record keeping accuracy. At the same time, these services increase the data accuracy throughout the year. Bookkeepers focus on the small details, helping to track all expenses and income down to the penny.

Accounting Services

After the bookkeeper gathers the data, an accountant can step in to analyze the data into usable information. Accountants focus on the big picture success of your business, helping you to find answers to overcome financial problems that you are facing.

Accounting services often include tasks such as tax return preparation, balance sheets, income statements, audits, cash flow analysis, and verifying the information submitted by the bookkeeper.

It is essential to have a professional focused on the big picture. These details will help you plan for the future. Additionally, a good conversation with an accountant can improve your financial decisions throughout the year.

Do You need Bookkeeping or Accounting?

As a small business owner, is it a higher priority to find a bookkeeper or accountant? The truth is that both of these services are essential. Bookkeeping and accounting go hand-in-hand, so it is best to have both.

Here at Easier Bookkeeping, we offer all of the financial services that you need. We invite you to contact our team today to learn more about the accounting and bookkeeping services that are available. We will talk with you about the options and put together a plan that is catered to the needs of your company. Call us today: (888) 620-0770

Is it Necessary to Pay for Small Business Insurance?

As a small business owner, your livelihood depends on the success of your company. Starting a new business is fun and exciting, but there are also some risks involved in your new venture. Luckily, there are a few things that you can do to minimize the risk and offset the consequences if something goes wrong.

If you are working with a small business bookkeeper, then that person will help you to minimize costs and maximize cash flow. There are times when you might have the suggestion to stop paying for certain services that might seem unnecessary. Before you start canceling services, you need to consider how essential each service is to determine if you can stop the payments without putting your company at risk.

Prevention and Protection

It is impossible to anticipate problems or accidents that might happen, so it is a good idea to take a proactive approach to prevent problems. Insurance is a great example of necessary protection that can make your life easier in the case of an emergency.

Even though the insurance payment might seem unnecessary, you will be glad for the insurance coverage if something goes wrong. If there is a question about whether you need an insurance policy for your company, then you should consider the benefits of talking with an insurance agent for a risk assessment.

Protect Your Business Finances

Cash flow can disappear if an unexpected event prevents you from selling your products or services. In this situation, it is essential that you have protection in place to keep your company from going under. A good insurance policy can be a great option to help you stay protected no matter what happens.

As you are putting together your financial plan, make sure that you are also working closely with your bookkeeper and accounting firm. This team is a great way to plan for the future and prepare for a rainy day. The advice from a team of finance professionals can be invaluable to help you take your company to higher levels of success.

At Easier Bookkeeping, we have what you need to manage your company finances and prepare for the future. If you are looking for small business bookkeeping services, then we invite you to contact our team anytime to learn more about the options that are available. We are always here to answer your questions and help you find the right services to meet your needs. Call us right away: (888) 620-0770