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Often people confuse Accounting and Bookkeeping to be the same thing. Although both functions assist you with running your business, and are integral parts of your business, there are some differences. Your Bookkeeper will assist you with the ongoing financial recording of your day-to-day business transactions while your Accountant will analyze the data, report on it and offer you sound financial knowledge on how to obtain and maintain profitability and compliance. 

  • An Accountant evaluates the financial documentation and makes suggestions based on the particulars of your business. A Bookkeeper is involved in the record-keeping of your financial transactions.

  • Accountants are focused more on the bigger picture, while Bookkeepers are focused on the day-to-day financial details to keep your business running smoothly.

  • The Accountant acts as a resource and guide, whereas the Bookkeeper’s role is more of an organizational position.

  • As far as their education goes, Accountants usually have a degree in Accounting and a CPA designation. Bookkeepers are not required to have any formal training.

  • While Accountants can and do fulfill Bookkeeping duties, Bookkeepers typically cannot take on the role of Accountants.

 

As you can see Accounting and Bookkeeping are different, so these terms shouldn’t be used interchangeably. However, these two roles are intertwined and typically work together to keep your business’s finances in order.

Bookkeeping

 

  • Bank & Credit Card Reconciliations

  • Remittances

  • Accounts Receivable/Customer Invoicing

  • Accounts Payable/Vendor Invoice Payment

  • Journal Entries

  • Payroll Services

  • Job/Departmental Costing

  • Sage50/Excel Software Setup/Training/Support

Accounting

 

  • Internal Controls

  • Profit/Loss Analysis

  • Operational Analysis

  • Financial Statements

  • Asset & Depreciation schedule

  • Loan Amortization schedule

  • Budgeting/Forecasting/Variance Analysis

  • Year-end working paper file for Tax Accountant

Cash Management

 

Connect directly to your financial institution to:

  • Pay bills on your behalf

  • Pay remittances on your behalf

  • Collect outstanding customer payments

  • Transfer funds between business bank accounts/lines of credit

  • Manage cash flow

Benefits of Hiring Us as your Accountant/Bookkeeper
  • Significantly reduce your stress by making it easier for you to focus on the aspects of building and growing your business, and having a life outside of work

  • You'll have peace of mind knowing that your business is compliant and your needs are being taken care of

  • As a business partner we'll gain a solid understanding of your business in order to provide knowledgeable support and guidance in the operation of your business

  • Assistance from a knowledgeable professional who is well-versed in day-to-day business acumen and the nuances of business

  • Reduction in financial errors

  • Highly accurate books, reducing your tax accountant's time

  • Timely bill payment and collections

  • Real-time cash-flow budgeting

Authentic Bookkeeping & Accounting


Tel: 778-215-0460
Email: cindy@authenticbookkeeping.info
Address​​​​​​: 6320 Renfrew Road

Peachland, BC V0H 1X7

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Serving the Okanagan: Kelowna, Penticton, West Kelowna, Westbank, Peachland, Summerland, Lake Country