Bookkeeping vs Accounting: Which Do You Need More?

[Suba]

Accounting and bookkeeping are two terms we often encounter in business finance. They are interrelated but have different scopes and purposes. Essentially, bookkeeping is a subset of accounting. As business owners, it's crucial to understand the difference so we know whether we need an accountant or just a bookkeeper. It's important to remember that a bookkeeper can also prepare balance sheets and income statements. Business owners need to know whether they should hire an accountant or just a bookkeeper to save money.

There are now many software and apps that make bookkeeping easier than relying solely on manual bookkeeping. Entrepreneurs or small business owners can do their own bookkeeping without hiring an accountant. However, if your business has grown or is planning to go public, you may need to hire an accountant.

 

[Starmix]

As of this time, I only do the bookkeeping, but I hired an accountant to manipulate my tax payable lol. Accountants are experts in this matter hehe.