Without an accountant and a financial bookkeeper (discover more here), then your business will not have a transaction record, and it becomes too difficult to determine profits, do not have a basis on which supplies and investments will be valued, capital management is not structured properly so that it will further increase the risk factors for material and non-material losses.
A business will not be able to survive in the long run without the presence of accounting and financial accounting which is neatly organized and truly following its system.
1. The process of your business finances.
As explained earlier, bookkeeping is a process in recording financial transactions, which process is the initial and basic part of an accounting recording process. With the recording and analysis, evidence of business transactions will be known whether included in the category of debit or credit.
The business financial process also requires the art to record transactions more systematically to maintain the balance of financial statements based on Accounting Standards. This is what an accountant will do with the help of an entity’s financial statements, internal audits, and also tax audits that will be carried out at the end of each financial year.
2. Accountants and holders of financial accounting, as a field for a new business.
Financial reports like this can be read by users after the audit process is completed so that it will be increasingly visible how the performance and position of the business for a certain period. The users of financial statements that include all stakeholders, such as creditors, debtors, suppliers, investors, shareholders, and also employees. Thus, the holders of financial accounting will be able to handle the recording portion of the accounting process, while an accountant will handle all parts of the entire accounting process.
3. The responsibilities of an accountant and a financial bookkeepers.
An accountant will analyze and interpret financial data to report how the financial condition and performance of a business is against the leaders of the company to assist them in making the most appropriate business decisions.
On the other hand, financial bookkeepers will record financial transactions chronologically for each day. usually, someone who occupies a position like this will get a salary that is also not more than an accountant. Although it looks a little simpler, for the work that must be done by a bookkeeper also still requires higher accuracy.
4. Some similarities between an accountant and a financial bookkeeper.
To work in accounting, one must have at least a bachelor’s degree to become an accountant. In fact, for a much higher level of expertise, he will be able to become a certified public accountant. Qualified accountants like this will be able to handle the entire accounting process for the finances of your business.
Meanwhile, as bookkeeping holders who do not need special qualifications to handle the recording of financial transactions. An accountant and financial bookkeepers will be able to walk side by side in your business. To ensure the accuracy of the transaction records, an accountant often functions as an advisor to financial bookkeepers and to review how their work is done. Bookkeepers record and classify financial transactions, laying the groundwork for an accountant to analyze financial data.