The terms Accountant and Bookkeeper are often used interchangeably, and most people who are not in the field of financial services may not even know the distinction.
Today, the notion that both roles are similar, has brought confusion to many who are not really affiliated with the financial world.
Comments and questions like “What’s the difference?’ or “What do you do that the other doesn’t?” is common to accountants and bookkeepers, and these are questions they may have even asked for themselves at the beginning of their careers.
Are you one of those people? Do you still wonder if you should become an Accountant or are you better off as a bookkeeper?
If you’re looking to pursue a career in Financial Services and are seeking the right answer to the question above, then this is the guide you need!
Being a Bookkeeper VS Being an Accountant
Bookkeeping, as a profession, is designed to generate and record data regarding the financial activities and transactions of an organization. These include purchases, receipts, sales, and payroll.
All the nitty-gritty numerical work falls under the responsibilities of a bookkeeper. This is expected more from a bookkeeper as compared to an accountant. Attention to detail must be exceptional and almost flawless.
Bookkeepers cannot afford to commit careless and rookie mistakes. Errors that seem so small and irrelevant at the time can lead to bigger problems and more expenses in the long run.
Accounting, on the other hand, analyses data that the bookkeeper provides. Generally, while the accountant’s role encompasses a few bookkeeping tasks, the work they do is more advisory and analytical as compared to those of bookkeepers.
They are more concerned about looking at the “big picture” of a company’s financial situation. Accountants are often hired for their ability to give out financial advice that will aid the organization’s financial stability in the long run. Sharp logic skills and excellent problem-solving abilities are an accountant’s asset.
Accountants are also in charge of the company’s taxation matters. Unlike bookkeepers, accountants are the ones best suited to advise on meeting tax requirements and compliance with tax laws and regulations.
Which Role is Best for You?
If you are eyeing a long-term career in the financial services industry, then it is best to pursue a career as an accountant.
A career in accounting offers better upward mobility and better income as compared to bookkeeping. Meanwhile, if you’re not yet set to commit to a long-term career and would want to test and see the financial services industry’s ins and outs, a career in bookkeeping should suit your needs.
Being a bookkeeper is an ideal starting point for those who want a decent salary and is still planning out the long-term scheme of their career path.
Another point to consider in choosing which career to pursue is the educational background required.
Landing a job in accounting requires a higher level of educational attainment as compared to bookkeeping. A huge chunk of the study load comes from learning the ins and outs of taxation.
It is an accountant’s duty to keep every tax-related matter in check.
Pursuing a bookkeeping role, on the other hand, has lighter educational requirements. Again, this is mainly because bookkeepers do not need to extensively analyze data, offer any financial insight or advice, and be involved in the business’s tax regulations. But just because it’s lighter than being an accountant, doesn’t mean that it’s an easier career choice.
It’s important to note that bookkeepers do serious number-crunching work in keeping tabs of the company’s financial records and transactions — and that’s no light work. This means aspiring bookkeeper needs to undergo serious training that would prepare them for the gritty world of bookkeeping.
Accounting and Bookkeeping Help you Decide?
If you’re wishing to pursue a career in the financial services industry and are still undecided if you want to specialize in accounting or bookkeeping, then it may be a relief for you to know that our professional accounting course is a mix of accounting and bookkeeping qualifications.
If you need any assistance in preparing your resume or you need more specific interview guidelines that best suit your personal requirements to have a breakthrough in the Canadian job market reach out to Gettrainedgethired.com to book a free 30-Minute career counseling meeting. At Gettrainedgethired.com we provide you with the necessary training to learn practical skills to become an accountant. Our training is based on practical real-life cases. After the training, we work on your resume and try to place you in accounting firms through our network. You will also get access to like-minded individuals who are looking for jobs through our WhatsApp group. Please feel free to contact us at [email protected]. Or call us at 647-870-6986
Disclaimer: The information provided on this page is intended to provide general information. The information does not consider your situation and is not intended to be used without consultation from professionals. Salman Rundhawa and Gettrainedgethired.com will not be held liable for any problems that arise from the usage of the information provided on this page.