One of the most common questions that arise in almost every business person’s mind is what is an accountant or a bookkeeper and how do you use Bookkeeping service excellently in business. Let us have a brief look at the role of a bookkeeper in the normal functioning of a business.
Role of a Bookkeeper
The best role a bookkeeper can play is to enter and maintain financial data, maintaining cash flows and providing you prompt information so that you can take care of your rest business activities in accordance. The bookkeeping service provider may also help you with the preparation of BAS statement and take care of year ending processes so that you can have fresh accounts statements in the new financial year. It would be better to have the bookkeeping functions divided into three main parts, which are accounts receivables, accounts payables, and payrolls. In smaller companies, one bookkeeper would take care of all these activities, however, in big companies it is imperative to divide activities into parts and allow work accordingly to ensure proper functioning.
Role of an Accountant
An Atlanta Accountant can best play a role of a financial consultant and can help you take many big business decisions. The best accountant can help you right from deciding the correct business structure like sole trader ship, proprietary and/or partnership and with the best format for the books of accounts. Accountants generally take care of day-to-day activities and have a glance at higher business too. Accountants must design reports that may help managers to take decisions and keep all the information floating. It is important to pass all the information gathered from your Atlanta Accountant with your bookkeeper so that business can run efficiently.
Working together with your Atlanta Accountant is quite important as this ensures proper functioning of day-today business activities. Keep a copy of your monthly reports so that you will have a tract of how business is heading every month. Establish regular meetings depending on the size of your business about financial reports. You can check your BAS statements prepared by the bookkeeping service provider with the accountant as this may help you get extensions on payment dates.
The Atlanta accountant may certainly help you with overall tax preparation but the area has got its own specialty and there are professionals that work only into manage taxes for you nothing else. Hire a professional who is specialized, knows all the upcoming tax laws and has a track of satisfied customer base. Most times, it happens that small business owners are not able to afford a bookkeepers and accountants at the same time to perform separate tasks and if they are not aware of the basic accounting concepts it is advised to hire a hybrid service provider which can handle both accounting and bookkeeping services and save you cost.