In the long run it makes sense for your business to use both a bookkeeper and an accountant. While most people often think they are one and the same, both professions have different skillsets and focuses that can help your business. Did you know that those different skills and focuses are complimentary? They go together like peanut butter and jelly! If you want to keep your finances healthy and robust, you should seriously considering sandwiching those talents together. Think of your bookkeeper and your accountant as the two hands that help you hold your business up.
At Hacker Accounting, we know just how beneficial it can be for your bookkeeper and accountant to work together because we do it all. Here are four reasons why both can help your business.
1. It’s cost-effective.
Hiring an accountant to do all the functions that a bookkeeper performs can be much more costly than hiring a bookkeeper. For the kind of work that a bookkeeper does, you will want to check in with them regularly. If you hired an accountant to do that work instead, it would be much more expensive and it wouldn’t be the best use of their time. You want to use your accountant in concert with your bookkeeper — the bookkeeper can feed your accountant the data they need to make the projections and suggestions that will help you grow your business.
2. It’s systematic.
To maximize efficiency, your bookkeeper and accountant can work together to create your bookkeeping system. This will make it easier for your accountant to pull out the necessary information that they’ll need while also making it easier for the bookkeeper to keep records since someone else helped them develop it. Having them work together early on also has the added benefit of letting them get to know how each other operates and lets them both share with each other what they will need to do their job.
3. It’s holistic.
Bookkeepers look at the trees while accountants keep their eyes on the forest. Bookkeepers are great for keeping track of day-to-day financial activities, but they won’t be able to offer you the kind of long-term strategic advice that an accountant can offer. Having the two work together can make them both work better: The accountant can help you plan for the future and know where you are in the present, while the bookkeeper can keep track of the business on a smaller scale with a clear picture in their head of where the business should be going.
4. It provides accountability.
No matter how reliable and skilled your bookkeeper is, it’s always a good idea to have an accountant on hand to double check the figures and make sure there are not any mistakes being made. It’s important to keep in mind that people make mistakes, and there’s nothing wrong with bringing in some oversight to be sure everything’s running smoothly.
A bookkeeper can also serve as good quality control for your accountant. They can let you know if your business in its current state can realistically take the next steps that your accountant is suggesting.
If you are in need of bookkeeping or accounting services, give Hacker Accounting at call at 602-375-5251. Our team of dedicated, qualified professionals can give your business the expert service it needs.