Short answer A bookkeeper keeps your day-to-day records accurate; an accountant turns those records into statements, tax returns and advice. Most small businesses need bookkeeping every month and an accountant once or twice a year.
Owners often use the two words interchangeably, but the roles are different. Knowing the difference helps you hire the right help at the right price.
What a bookkeeper does
- Records and categorizes daily transactions.
- Reconciles bank, card and payment accounts every month.
- Runs payroll and tracks GST/QST so returns are ready to file.
- Produces clean monthly statements.
What an accountant does
- Prepares year-end financial statements and tax returns.
- Gives tax planning and structuring advice.
- Handles specialized engagements. In Quebec the CPA designation is protected, and only CPAs can perform public accounting engagements such as audits and review engagements.
Which do you need?
If your records are behind or you are unsure whether numbers are right, start with bookkeeping: an accountant can only be as accurate as the books they receive. Once your books are current, add accountant support for year-end and tax planning.
See our monthly bookkeeping and fractional CFO services, or compare plans on the pricing page.