As a small business owner, you will need your financial data to be very accurate and also current as this will help your business to maintain healthy cash flow. However, as your business starts to grow and expand, the act of financial management becomes more cumbersome because now more money is flowing in and out of the business. At this point, you will not be able to manage your finances on your own because it will be time-consuming and you will not have that time.
When your business gets to this level, you will need help but most business owners are confused on what kind of help to get. Should they hire a bookkeeper or an accountant? Sometimes both works are used interchangeably but are they really the same thing? The answer is No.
So how does a bookkeeper differ from an accountant?