A bookkeeper’s main role is to process the financial transactions of a business into a software system such as Xero, and help turn the wheels of the business by paying bills and chasing customers for payment. All businesses will generate a lot of paper, such as purchase invoices, receipts and expense claims. The bookkeeper will transform a bundle of paper into something orderly and accurate. Some bookkeepers will also prepare Tax returns, run payroll and prepare and file self assessment tax returns.
Most bookkeeper’s operate as a stand alone service. In some ways it’s like having your own part-time finance person.
A bookkeeper will work on your books weekly, fortnightly or monthly. The frequency depends on the size and complexity of your business and also how up to date you need/want your financial records to be.
An accountant will generally work at less frequent intervals, for example to work on quarterly Tax returns or annual accounts. They could be involved on more specialist projects at certain times, for example to work on a business plan or cash flow forecast.