When looking to manage your finances, you might consider hiring a professional for assistance. However, you might not be sure whether to hire a CPA, bookkeeper, or accountant. While each of these professionals may seem somewhat similar on the surface, there are some distinctive differences to consider between them.
In this blog post, we’ll look into each type of financial expert and the role they have in the financial industry.
What Are Certified Public Accountants (CPAs)?
A certified public accountant, or CPA, is a financial expert with a license, which makes them a “certified” accountant, separating them from other accountants without this credential.
Experienced CPAs can perform a variety of tasks to help you manage your finances as an individual or business, including:
- IRS audit representation
- Financial statement analysis
- Tax preparation and planning
- Guidance for small businesses
You can often trust reputable CPAs with most financial tasks, especially if you need to protect the integrity of sensitive data.
What Are Bookkeepers?
Meanwhile, bookkeeping services can help with the precise management of individual or business finances for better expense management. For instance, they can keep track of your weekly, monthly, or annual expenses.
Think of it this way: CPAs look at the sum of the parts when it comes to financial management, while bookkeepers look at the little details.
Why Work With Professionals?
Many business owners, especially those just starting with a small business, may consider sticking to accounting software to help manage their finances. However, even the most intuitive software might require the skill of an expert to use it effectively, and you may overlook certain details about your finances that experts would catch.
Generally, it’s in your best interest in most cases to work with professional bookkeepers or CPAs for help with financial management, especially if you don’t have sufficient experience or education in finance.
At the same time, working with pros for financial management at every level can help you focus on what you do best: running and growing your business. As you work to expand and increase your bottom line, you can rest assured that you’ll remain compliant and manage your finances.
Get Professional Bookkeeping and Accounting at The Total Wealth Group
Both bookkeeping and accounting services from CPAs can help you fully manage your finances, especially if you’re a small business owner in need of solutions that can fuel real long-term growth.
To help with your financial situation and get the best results from accounting and bookkeeping, turn to The Total Wealth Group. Reach out to us today to find out how our experts can help you and develop a personalized plan that works.