And simply pivot if-or when-you need to hire the other. And having the support of a bookkeeper will free up your time, allowing you to focus on what matters: Your business.Ĭhoose what makes the most sense for your type of business. Business owners, who hire financial support in the early stages of their growth, rarely regret it…if ever!Īn accounting professional can help you create a plan, ultimately saving you time and money in the future. It’s never too early to engage an accounting professional. In 2023, offering client accounting and advisory services is a must. What services does the individual have experience offering?.Does this individual have experience in your industry?.What is their level of expertise? Do they have certifications?.Keep this in mind when filtering applications try not to judge applicants based on their education alone.Ĭonsider these questions when reviewing a candidate: Industries that work with complex financial systems and high-volume transactions require accountants (i.e., government agencies, colleges, hospitals, etc.).Ī knowledgeable and skilled bookkeeper with years of experience and first-hand knowledge of accounting applications is-most likely-more qualified to run the books for your business than a recent accounting major graduate. Are there industry-specific reporting requirements you must adhere to and are they currently being met?.How many employees do you have and what are your payroll cycles?.Do you have proper controls/understanding for paying invoices, monitoring inventory, and receiving payments for your business?.What’s your knowledge of the accounting procedures and requirements for your industry?.Here are some industry-related questions to consider when making your decision: However, if you need insight and advice on how to better operate your business at scale…you will need help from an accountant. A great choice for handling daily transactions and repetitive processes. This choice primarily depends on the industry and the level of expertise required. It’s important to understand whether you need to hire a bookkeeper or an accountant. Bookkeeper or accountant: Which do you need? Each piece of the financial process is just as important as the next. The records reported by the bookkeeper will determine the accountant’s advice to leadership, and ultimately, the health of the business overall.
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