Many people are wondering what is the difference between bookkeepers and accountants since the latter are usually paid much higher. At one glance, the job scope between accountant and bookkeeper does seem no difference, however, it is important to differentiate their role.
The task of a bookkeeper is primarily to record day to day business transactions such as cash receipts, cash payments and general journal adjustments.
The job of bookkeeper is more a clerical role whereas an Accountant is tasked on reviewing the work done by his or her subordinates. Accountant is a member of senior management team of a company and since he or she has a lot more responsibilities when come to the financial management of the company.
Accountant need not be a member of a professional accounting body in certain countries, but as an accountant, you have to arm with you the necessary technical accounting knowledge and experience in order to perform your task competently.
A bookkeepers have less responsibility as compared to accountant. As mentioned above, their tasks are more on recording and tracking basic accounting transactions. Having said that, some bookkeepers are also competent in areas such as computation of tax payable for a small business or small corporations depending on their exposure and experience.
In short, accountant is a management member of a company where a bookkeeper is usually a staff member of an accounting team in a corporation. That is why accountant is paid a lot higher in terms of remuneration in view of his or her task and level of responsibility.