Difference Between A Bookkeeper & An Accountant
There are significant differences between an accountant and a Bookkeeper in Perth.
A bookkeeper is in charge of recording the information regarding the financial activities and all transactions of a business. It is necessary for a bookkeeper in Perth to provide the accumulation, organisation, storage, and access of all financial information.
Recording all transactions into the journals, processing payroll, sending out invoices, paying invoices, preparing internal reports to the manager or owner and perhaps some of the financial statements and tax returns, and making sure all numbers are made available for the accountant to prepare the necessary financial statements are the main duties of a bookkeeper in Perth. The accountant depends on the accuracy of the information recorded by the bookkeeper.
An accountant must design and monitor the record keeping system that the bookkeeper will use, establish controls to make sure the system works well, must analyse and verify the recorded information of the bookkeeper, and prepare reports based on the information accumulated by the bookkeeper in order
Additionally, an accountant must give confidential financial reports to the business owners. An accountant measures revenue and expenses to determine the profit or loss of the business and prepares budgets as well as monthly financial statements and tax returns.
Bookkeepers in Perth are well advised to consult with an accountant on a regular basis to make sure that the bookkeeping is being accomplished to the full satisfaction of the accountant. After all, it is the accountant’s responsibility to create a complete financial picture for the business owner and to fulfill all the requirements of the ATO.
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