Friday, May 27, 2022

Accounting VS Bookkeeping VS CFO

I am actually an accountant I have halfway through my accounting degree I have a lot of experience but there is a difference between accounting and bookkeeping and there's a difference between accounting and bookkeeping and CFO work so I wanted to talk a little bit about about that let's kind of start with the bottom of the totem pole which .

Is the bookkeeper the bookkeeper is the one that does the day-to-day data entry for your business she does need to be she's having you know at least a reasonable grasp but basic accounting principles in other words she needs to know the difference between a debit and a credit she means don't know how to reconcile a bank account she needs to .

Know how to enter a check and reconciled credit card payments if you have a company that has a lot of trade lines she needs to know how to reconcile those and send out the payment and that's really what a bookkeeper does is make sure it's compliance work it's make sure that everything is in your accounting software and that everything is there's .

No duplicates there's no there's no missing transactions and that they are reason that's a front most bookkeepers are going to put that towards an insurance expense rather than Inc bringing this case to a CPA because you can be an accountant to not be a CPA and you can be a CPA if you get asked about

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