A fantastic article that clarifies when to hire a bookkeeper or an accountant. Just in time for #taxseason! via @Entrepreneur

When to Hire a Bookkeeper or Accountant | Entrepreneur.com.

“An accountant can analyze the big picture of your financial situation and offer strategic advice. He or she produces key financial documents, such as a profit-and-loss statement, if needed, and files a company’s taxes.

After tax season is over, an accountant can also act as an outsourced chief financial officer, advising an entrepreneur on financial strategies, such as whether to secure a line of credit against receivables when introducing new products.

In contrast, a bookkeeper does the day-to-day hands-on tasks: making sure new employees file all the right paperwork for the company’s payroll, submitting invoices (promptly) and following up on them, and paying the bills. The bookkeeper also tracks company expenses and can assure that every cost has been entered — and recorded correctly — into software like QuickBooks so that the business is ready for tax time along with filing any other reporting to, say, creditors or investors.”

Read the full article at Entrepreneur.com.

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