Foster McKay’s Post

Today's obscure 'holiday' is National Accounts Payable Day. Happy National Accounts Payable Day to all the hardworking financial professionals out there! Today we celebrate your dedication to keeping the books balanced and the bills paid on time. Thank you for all that you do to keep our businesses running smoothly. Be sure to thank your bookkeepers and accountants today. #AccountsPayableDay #FinanceHeroes #smallbusiness #accounting #localbusiness

🔍 Understanding the Roles: Bookkeepers vs. Accountants 🔍 Hey everyone! Ever wondered what the difference is between a bookkeeper and an accountant? Although both are essential for managing your business's finances, they play quite different roles! ✨ Bookkeepers handle the day-to-day financial tasks. They record transactions, manage invoices, pay bills, and maintain ledgers. They're the ones making sure every dollar is accounted for on a daily basis! 📊 🌟 Accountants, on the other hand, take a broader view. They analyze the financial data recorded by bookkeepers to provide insights, prepare reports, and make strategic recommendations. Accountants often handle tax planning, audit support, and financial forecasting. 💼 So, while both work with numbers, their roles and responsibilities diverge to cover all aspects of financial health and planning. Make sure you're utilizing both to keep your business on track! 🚀 #BusinessFinance #Bookkeeping #Accounting #SmallBusinessTips

Heritage Accounting provides accounting services that include day-to-day transaction control, accounts payable, accounts receivable, payroll, financial management reporting, and a full range of other services. This situation can simply lower the cost of hiring and related operational expenditures. DM for queries. #Networking. #Life.#Entrepreneurship.#Work.#Success. #accounting #bookkeeping #bookkeepingservices

Today's obscure 'holiday' is National Accounts Payable Day. Happy National Accounts Payable Day to all the hardworking financial professionals out there! Today we celebrate your dedication to keeping the books balanced and the bills paid on time. Thank you for all that you do to keep our businesses running smoothly. Be sure to thank your bookkeepers and accountants today. #AccountsPayableDay #FinanceHeroes #smallbusiness #accounting #localbusiness

Here are 5 key tasks a bookkeeper handles: 1. Recording financial transaction. 2. Managing Accounts. 3. Generating financial reports. 4. Expense tracking. 5. Budgeting Assistance. #socialmedia #bookkeeping #finance #smalbusiness #accounting #smallbusiness

Accounting experience typically involves working in various roles within the accounting field, such as bookkeeping, financial analysis, auditing, or tax preparation. It's gained through practical hands-on work, often in different industries or organizations, and may include tasks like reconciling accounts, preparing financial statements, analyzing financial data, or advising on tax strategies. Building a solid accounting experience usually requires a combination of education, training, and on-the-job experience.

Heritage Accounting provides accounting services that include day-to-day transaction control, accounts payable, accounts receivable, payroll, financial management reporting, and a full range of other services. This situation can simply lower the cost of hiring and related operational expenditures.  #Networking. #Life.#Entrepreneurship.#Work.#Success. #accounting #bookkeeping #bookkeepingservices

Three things you need to take into account when hiring an in-house or outsourced accountant to manage your books Accuracy—Will they be careful to ensure that all transactions go where they belong or play a guessing game? Timeliness—Will they keep the books fully updated and reconciled within a short time after each month/quarter? Communication—Do they understand what they need from you to provide you with all the financial information you need for your business? I've seen accountants with years of experience who just guess the category based on the bank memo or, even after having everything up to date, don't know how to answer the partners how much they are owed in commissions. I've also seen tax accountants lie to the bookkeeper that the deadline is a month earlier since they know the bookkeeper never makes the deadline.  

What's the 𝗺𝗼𝘀𝘁 𝗶𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝘁𝗮𝘀𝗸 your accountant does for you? Drop your answers in the comments. 🔵 Bookkeeping 🔵 Financial Reporting 🔵 Tax Preparation and Planning 🔵 Auditing 🔵 Payroll Processing 🔵 Budgeting and Forecasting 🔵 Financial Analysis 🔵 Accounts Payable and Receivable 🔵 Regulatory Compliance 🔵 Advisory Services 🔵 Financial Software Management 🔵 Cost Accounting Something else? The tasks are diverse and play critical roles in ensuring the financial health and regulatory compliance of businesses and individuals. #accountant #tax #vat #bookkeeping

What's the 𝗺𝗼𝘀𝘁 𝗶𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝘁𝗮𝘀𝗸 your accountant does for you? Drop your answers in the comments. 🔵 Bookkeeping 🔵 Financial Reporting 🔵 Tax Preparation and Planning 🔵 Auditing 🔵 Payroll Processing 🔵 Budgeting and Forecasting 🔵 Financial Analysis 🔵 Accounts Payable and Receivable 🔵 Regulatory Compliance 🔵 Advisory Services 🔵 Financial Software Management 🔵 Cost Accounting Something else? The tasks are diverse and play critical roles in ensuring the financial health and regulatory compliance of businesses and individuals. #accountant #tax #vat #bookkeeping