Every organization has an accountant and only some have a bookkeeper. These two titles are often used interchangeably. There seems to be confusion on what a bookkeeper and an accountant does in the financial process of a business and how each can improve the financial health of their business. There are distinct differences between the two however both require a knowledge of accounting. Accountants have a bachelor’s degree or higher in order to become a Certified Public Accountant (CPA). The Countryman Group has taken the role of the bookkeeper a little further in an effort to help business owners in the success of their business.
The traditional bookkeeper is involved in the following accounting process; recording financial transactions, posting debits and credits, producing and sending invoices, and maintaining and balancing ledgers and historical accounts. The bookkeeper helps with the day to day financial transactions of the business.
An accountant is involved in preparing adjusted journal entries, preparing financial statements, analyzing costs of operations, completing income tax returns, helping owners understand the impact of financial decisions and their business. The accountant assists business owners in better understanding their profitability, awareness of their cash flow, and gives them a picture of their overall financial health.
The Countryman Group has redefined the role of a bookkeeper in an effort to help business owners save time and money. We are involved in the entire accounting process with the exception of completing income tax returns. We go beyond recording and classifying financial transactions and provide services to interpret, analyze, report and summarize financial data. This provides business owners with a better understanding of their financial health. We provide the financial information required by the CPA in order to complete the income tax returns. We strive to become a financial partner with business owners to positively impact their business and share in their success.