Accountancy Middlesbrough: The Role of A Bookkeeper And An Accountant

Posted by sylver on February 28th, 2016

Numerous companies in the UK offer a wide range of accounting services to business groups, irrespective of their sizes and area of operation. From maintaining books of accounts to providing payroll services, the Accountancy Middlesbrough service providers do it all. The companies that offer these kinds of services focus on doing their role in the best way possible.

Many common people do not know the difference between a bookkeeper and an accountant. Various companies require the services of a bookkeeper, whereas some may be happy with the efficient services of an accountant. In this article, you will understand the difference in roles of a bookkeeper and an accountant.

Bookkeeping is mainly related to the recording part, day to day financial transactions are noted down for a particular business. There was a time when transactions relating to sales, purchases, income and payments were written down on a particular page manually. However, with the technological innovation and updates, the process is now mainly done with the help of bookkeeping software.

The main role of a bookkeeper is to be responsible for all transactions that take place in a business house. It is his duty to prepare the supplier’s ledger, customer ledger, day books, general ledger and VAT estimates, correctly. In short, the role of a bookkeeper is to prepare the trial balance for the accountant, so that he can deal with the rest of the things. But when the role of a bookkeeper is undertaken by someone who does not belong from this field, things go wrong. So, for efficient services, you should rely upon the professionals only.

Accountancy Middlesbrough involves creation of daily lists of all the financial transactions that are noted down by the bookkeeper. The reports can be of various types, statutory, general profit and loss statement or annual accounts. So, the job of an accountant is more or less dependent on the works of a bookkeeper. If the bookkeeper fails to perform his task correctly, the entire impact falls on the role of an accountant. So, the bookkeeper needs to do things correctly and efficiently.

Most of the businesses require both of their services, where a bookkeeper maintains daily records of transactions and an accountant helps in managing the business. The accountant will prepare the annual accounts as well as profit and loss statement. In many companies, VAT returns are also filed by the accountant. VAT procedures are quite complicated and to file them perfectly, you will need professional help of accountants and tax consultants.

 Business Financial Services Middlesbrough also provides tax planning advices, business formation related information, business plan construction, and forecasting and budget related queries. In all over the UK, you will easily find numerous accounting service companies but you need to choose one judiciously.

Are you seeking some experts’ advice on Accountancy Middlesbrough? Our efficient website offers awesome range of Business Financial Services Middlesbrough to the clients throughout the UK.