{"id":15058,"date":"2021-12-01T10:16:26","date_gmt":"2021-12-01T10:16:26","guid":{"rendered":"https:\/\/www.guru.com\/blog\/?p=15058"},"modified":"2022-10-28T09:56:16","modified_gmt":"2022-10-28T09:56:16","slug":"cost-of-an-accountant-for-a-small-business","status":"publish","type":"post","link":"https:\/\/qa-wp.guru.com\/blog\/cost-of-an-accountant-for-a-small-business\/","title":{"rendered":"Cost of an Accountant for a Small Business"},"content":{"rendered":"\n

Accounting is a necessary chore that comes with running a business\u2014no matter how small. But with all the work needed to grow your venture, it can be hard to spend time balancing the books, analyzing financial statements, and dealing with taxes. So it makes sense to hire accountants<\/a> to help lighten the load. Though it counts as an overhead expense, paying for the service is worth it to guarantee that your finances are in check and that you comply with the law. An accountant costs anywhere between $1,000 to $5,000 a year; though the final amount depends on various factors including the scope of work, the accountant\u2019s experience and expertise, and the business location, among others. <\/p>\n\n\n\n

What Is the Difference Between a Bookkeeper and an Accountant?<\/h2>\n\n\n\n

A lot of people assume that hiring an accountant comes with bookkeeping. It is sometimes offered as an extra service (it\u2019s good to add this to your list of questions to ask an accountant<\/a>), since it isn\u2019t typically part of an accountant\u2019s scope of work. There is a difference between the two, although bookkeeping is a prerequisite for proper accounting.<\/p>\n\n\n\n

A bookkeeper\u2019s job generally involves data management. They record and process a business\u2019 day-to-day transactions, making sure that its ledgers are balanced. They also typically handle whatever software is used to keep track of the company\u2019s finances, and are responsible for training and guiding employees to properly input all transactions based on best practices. Bookkeepers typically don\u2019t need formal training, and they can be hired as in-house staff. On an average, they\u2019re paid $17 to $30 an hour. When a company has both a bookkeeper and an accountant, the former usually assists and reports to the latter.<\/p>\n\n\n\n

An accountant, on the other hand, takes a more strategic role. They use the information from the bookkeeper to give financial advice and guidance to a business to better manage and maximize its finances. Additionally, an accountant is responsible for making sure that a business is legally compliant with government regulations of taxes and finance.<\/p>\n\n\n\n

What Services Do Accountants Provide?<\/h2>\n\n\n\n

Accountants provide several different services, and how much you pay them depends on which of these you utilize for your business. Their responsibilities include:<\/p>\n\n\n\n