Small business accountants and Certified Public Accountants are often considered the same. Although they perform many of the same tasks and share other similarities, they are not the same. Contact an accounting firm in Aventura to find the best fit for your business.

Bookkeeper vs. CPA vs. Accountant, what do you need for your company and why?

1. Role of small business accountants

Accountants for small businesses have an essential role in small companies. They create accounting records, cash flow statements, and other financial statements, such as income statements. 

Small business accountants often carry out financial analyses and predictions. They could provide recommendations for potential growth areas. When it involves taxes, they can handle preparation, filing, and adjustments. They help maintain a stable cash flow and often find themselves in charge of maintaining accounts and management. A small business accountant’s responsibilities include keeping track of fixed assets and payroll.

You could benefit from hiring a Small Business Accountant if you:

• You need some financial guidance.
• You want a review of your finances.
• You need support with your complicated taxes.

2. The job of certified public accountants

When you engage someone to handle a part of your company that may include complex financial problems, it is vital to know that certified public accountants have the appropriate licensing. Tax planning and preparation, internal and external audits,  financial statement analysis, and other tasks are managed by CPAs. A trustworthy source of advice is certified public accountants. An accountant (CPA) could offer advice on purchasing assets, business structure, and depreciation methods, which can be very beneficial if you have only recently begun a business. It is true if you are growing your small company.

A CPA may be necessary if you:

• Recently launched a new business.
• Wish to grow larger.
• Complicated tax preparation and return.
• You are looking into each component of your business.

3. Role of bookkeepers

Small Business Bookkeepers also provide services to small companies. They are more preoccupied with the details of your finances. They track and analyze the intricacies of day-to-day and weekly financial management, whereas Certified Public Accountants and Small Business Accountants are more concerned with the broader picture.

You can employ a Small Business Bookkeeper at a cheaper cost if:

• You want to keep track of your business expenditures.
• You need to analyze your everyday finances.
• The requirement to maintain complete financial records.