Financial Tasks That Are Better Left in the Hands of a Des Moines Accountantcustomonecfo
Many small businesses here in the Des Moines Region are fortunate in that they have a bookkeeper while also taking advantage of the council and expertise of an accountant. So what’s the difference between a bookkeeper and an accountant, and why are certain businesses fortunate in having access to both? The answer to this question is important not only in that it distinguishes the differences in duties between the two, but it also serves as an important reminder of why certain tasks are okay to leave in the hands of a bookkeeper, while others should only be performed by a Des Moines accountant. Typical Financial Tasks Performed by Bookkeepers The name pretty much says it all: Bookkeepers keep the books. This may or may not be based upon procedures they have put in place, however adhering to and maintaining these procedures and systems are important as they pertain to the following list of tasks they typically perform.
- Preparing and keeping track of customer invoices and payments.
- Preparing and keeping track of the business payroll.
- Keeping track of cash expenditures.
- Maintaining and reconciling the business banking accounts.
- Prepare financial statements for the business.
- Preparing tax returns and handling tax planning for the business.
- Advising the business owner in matters of structuring the business, tax laws and on important financial decisions.