It depends. We’d be happy to have a brief consultation to provide personalized financial advice for your new business, but at a high level, you need three things:

1. A strategic plan
2. Consistent accounting records
3. Expert advice

Contrary to popular belief, accountants and bookkeepers perform distinctly different tasks for the businesses they serve.
Bookkeepers are responsible for on-going maintenance of their clients’ general ledgers. A bookkeeper’s common responsibilities consist of:

• Compiling data on a daily basis
• Categorizing expenses in the general ledger
• Reviewing the general ledger for accuracy
• Reconciling bank statements against the general ledger
• Generating financial statements

Accountants use the accurate and up-to-date general ledger maintained by the bookkeeper to provide advisory services, such as:

• Analyzing the company’s financial data
• Preparing income tax returns
• Providing tax planning advice

The importance of using a first-rate bookkeeper is key to your business’ success.