Orlando Bookkeeping and Accounting – Know the Difference

Introduction

For more than 15 years I have been providing accounting and bookkeeping in Orlando.  I know that upcoming Orlando small business owners are often recommended hiring professional help to assist with the Orlando accounting function of their accounting firm. Since both Orlando bookkeeping and accounting pertain to such services, determining which one you really need can be best described as a challenging task.

Let’s first take a look at the literal job roles either one of them can play in an accounting firm in Orlando.

Entry-level bookkeeping Orlando is essentially data-entry and a bookkeeper is the go-to-person for everyday financial recording. Hence, the term bookkeeper is rather literal: one who keeps the books and records or retains documentation and transactions. A well-versed bookkeeper can also go on to become an accountant after the relevant experience.

An accountant tends to focus on reporting, business analysis/processes and at times, financial advice. Bookkeeping and accountancy can often go hand in hand; the bookkeeper operates as a “feet on the ground” person, pushing forward a more prominent relationship between the accountant and the business owner.

Just so you know accountants and bookkeepers in Orlando can both acquire certificates through the AIPB for example, if they so choose; the AIPB is a certification authority – American Institute of Professional Bookkeepers. However, the term “accountant” and “bookkeeper” can be taken up without certification. Therefore, an accounting firm ought to know the respective qualifications before hiring either one of them or both.

Figuring out which one you need

This squarely depends on industry trends and the level of expertise required by the accounting firm in Orlando. It may be wise to ponder over certain questions: “What industry is the company in?”; “Do they maintain a limited number of fixed assets or a relatively large inventory?”; “What’s the current workforce?”

Generally, the more complex the accounting firm, the more crucial it is to make certain the bookkeeper being hired is supported by a good CPA (Certified Public Accountants), who can provide advice as and when needed. This has no doubt, the potential to be a solid partnership that keeps communication and the flow of data going strong. Also on your list of considerations, should be to go around asking for client references and proof of purchase of E&O Insurance – a professional liability insurance that gives protection to companies and individuals against claims made by clients, in the event of incomplete work or unorthodox/unacceptable actions. E&O Insurance will often cover court costs as well as settlements, up to a certain amount on the insurance contract.

Is it Expensive to Hire Orlando Bookkeepers/Accountants?

Bookkeepers are usually less expensive than CPAs – makes them a great choice for an accounting firm that needs day-to-day input and expertise. Good bookkeeping in Orlando often bring to attention, something that might need higher levels of advice, thereby saving additional costs. Costs of course, vary depending on geographic location and industry and experience.

What you can do is call around and ask local Orlando accounting firms or CPAs, business owners and even local businesses to get a referral. A good bookkeeper can be found through word of mouth. However, many a times, you’ll have to look hard, as a good bookkeeper gets hired easily and gets busy fast.

If you need more information about our, Orlando accounting and tax services, please contact us at 407-502-2400.  Freedomtax Accounting’s staff has been providing honest accounting services and tax services for 15 years.  Our Orlando accounting and tax firm has its main offices in Kissimmee, FL.  Our services are provided nationwide, but mainly in the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, and Hunters Creek, FL.  Our tax accountants and IRS enrolled agents (irs ea) specialize in corporate accounting and bookkeeping, tax services, tax preparation, back taxes help, tax debt relief, tax resolution, tax planning, itin numbers, incorporations, and non profit 501c3 tax exempt status applications.