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Bookkeeping Solutions

17 Years of Bookkeeping Experience

We want our clients to focus on their business and leave the books to us. With over 17 years of Bookkeeping experience, you know you’re in good hands.

Many of our small business clients came to us to fix their past mistakes and find it in their best interest to have Practical Tax Solutions handle their bookkeeping. Already knowing too well of having gone through the nightmare of dealing with the IRS, and reacting to the problems – they know they’re in good hands to make sure year after year your books are taken care of.

Bookeeper vs. Accountant: What's The Difference?

Fact is, a majority of people would be hard-pressed to describe the difference between an accountant and a bookkeeper. These financial roles however do share common goals, they support different stages of the accounting process. As a business owner, it’s very important to know the difference.

Where Bookkeeping Ends, Accounting Begins.

A bookkeeper records and classifies a company’s daily financial transactions such as sales, payroll, payment of bills, etc. Their focus is on accurate record-keeping with less focus on the analytics.

An accountant typically reviews financial statements prepared by a bookkeeper (since most bookkeepers do not have a four-year accounting degree). An accountant takes the next step and analyzes, reviews, and interprets financial information for the company. They turn the records into reportable data that is used for decision making

Which Do You Need?

It’s very important to understand whether you need to hire a bookkeeper or an accountant. This choice is primarily dependent on the industry and the level of expertise needed. A bookkeeper is less expensive and a great choice for daily transactions, while an accountant’s support and eyes on the books is great for periodic advice. Here are some questions to consider when making your decision:

  • What industry is the company in?
  • How large is their inventory?
  • How many employees do they have?
  • What services do they offer?
  • What is their level of expertise?

When Should You Seek Financial Support?

It’s never too early to engage an accounting professional. Business owners, that hire financial support in the early stages of their growth, rarely regret it. An accounting professional can help you create a plan; ultimately saving you time and money in the future. Having the support of a bookkeeper or accountant will free up your time, allowing you to focus on your business.