What’s the Difference Between a Bookkeeper and an Accountant?

william8192
Oct 25
2 min read

If you’ve ever wondered whether you need a bookkeeper, accountant, or both—you’re not alone. These roles work together, but they handle different parts of your financial puzzle.

Here’s how to tell them apart—and how each one supports your business growth.

What Bookkeepers Do

A bookkeeper handles your day-to-day financial records, including:

Tracking income and expenses
Reconciling bank accounts
Categorizing transactions
Managing accounts payable and receivable
Preparing GST/HST returns
Running payroll and CRA remittances

Bookkeepers keep your data accurate, organized, and up to date—so you always know where you stand.

What Accountants Do

An accountant typically focuses on year-end and compliance work, such as:

Preparing corporate tax returns (T2s)
Creating financial statements
Offering tax planning strategies
Conducting audits or reviews
Advising on corporate structure or capital gains

They use the data maintained by your bookkeeper to file taxes, offer high-level advice, or work with the CRA.

Which One Do You Need?

Most Canadian small businesses benefit from having:

A bookkeeper to handle monthly tasks and financial clarity
An accountant to handle taxes and strategic planning

Think of your bookkeeper as your financial translator—making sure everything is accurate before your accountant steps in.

Indigenous Business Tip

Indigenous organizations, councils, and entrepreneurs often need both roles:

Bookkeepers help manage funding streams, program reporting, and transparency
Accountants provide audited statements or compliance with acts like the TH Financial Administration Act

Together, they build a solid foundation of trust and accountability.