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The Difference Between a CPA and a Bookkeeper

The Difference Between a CPA and a Bookkeeper

When it comes to professional financial consulting, you already know that your small business or nonprofit organization needs someone, but who?

Should you look for an accountant, a bookkeeper, or both? And what do those terms even mean? Just ask Good Steward!

Good Steward Financial Company is a virtual nonprofit bookkeeping service that offers top-notch accountant and bookkeeper services for small businesses and nonprofits.

In addition to full-service bookkeeping and accounting, we also address all your small business or nonprofit’s financial needs with:

  • Annual audit assistance
  • Cash flow management
  • Fractional CFO services
  • Payroll processing
  • QuickBooks services

We are your experts in bookkeeping for nonprofits and small businesses, and we are here to help you determine which professional bookkeeping and accounting services for small businesses best suit your organization.

What is a Bookkeeper?

In the most basic sense, a bookkeeper is your business or nonprofit’s recordkeeper. They keep track of all the money your organization receives and spends.

This task may initially sound simple, and especially if you have a very small organization, you may be tempted to tackle it yourself with an Excel spreadsheet. However, we strongly advise against it!

Bookkeeping for nonprofits and small businesses covers a wide scope of tasks, all of which require a professional’s expertise. When you hire a business or nonprofit bookkeeping service, they will take on:

  • Maintaining the general ledger
  • Balancing the books
  • Identifying and reporting discrepancies or errors in the financial records
  • Posting financial transactions to the correct accounts
  • Handling receivable and payable accounts
  • Using the appropriate bookkeeping techniques and software
  • Generating financial reports and invoices
  • Paying vendors, lenders, etc.
  • Payroll processing
  • Reconciling bank statements

It is important that all these business bookkeeping services are completed with impeccable accuracy and compliance.

Otherwise, you will not have a clear picture of your organization’s finances, and you may be more vulnerable to tax issues or embezzlement.

What is a CPA?

An accountant takes the data that your nonprofit bookkeeping service collects and interprets it.

A certified public accountant (CPA) is an accountant who has completed the required education and passed the CPA exam. A CPA will be licensed through your state’s Board of Accountancy.

Your CPA helps you analyze the data your business bookkeeping service has compiled. A CPA will:

  • Interpret financial records
  • Conduct audits
  • Develop budgets
  • Consult on financial decision-making
  • Project profit margins
  • Prepare and file your tax return
  • Interact with the IRS on your behalf

Your CPA should be someone you trust, with extensive accounting knowledge and, ideally, experience working with clients who run small businesses or nonprofits like yours.

Accounting & Bookkeeping Services with Good Steward

Bookkeepers and accountants play critical but distinct roles to keep an organization’s finances healthy, and you’re probably realizing that you need both bookkeeping and accounting services for your small business or nonprofit.

Thankfully, you can turn to Good Steward Financial Company! We are your one-stop-shop for all the accounting & bookkeeping services for your nonprofit organization or small business.

With Good Steward’s expert advice, you will be set up for short-term and long-term financial success.

We work exclusively with small businesses and 501c3 nonprofit organizations, so we fully understand the unique challenges that you face, and we have the expertise to guide you.

In addition to full-service bookkeeping and accounting, Good Steward Financial also offers innovative solutions like fractional CFO services, QuickBooks services, and payroll processing.

As a Christian company, we approach our bookkeeping for nonprofits and small businesses from a Biblical perspective. We have servants’ hearts, and we complete every task with the highest standards of integrity and excellence.

Contact us today to get the best bookkeeper services for small businesses and nonprofits!

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