What’s a successful business without successful (and accurate) financial reporting?
Of vital importance: Keeping track of your business financials and creating comprehensive analysis of that data. While it might seem like a no brainer to have an excellent financial tracking component when running a business, it’s not as simple as it seems. That’s why having error-free bookkeeping (or a precise bookkeeper) and having excellent accounting measures (which might include hiring an excellent accountant) are so essential.
But what’s the difference between bookkeeping and accounting? Here’s an overview of how the two roles are different, and how bookkeepers and accountants work together.