The short version
- Bookkeeping = recording and organizing every transaction, reconciling accounts, producing clean monthly reports
- Accounting = interpreting those records for tax, compliance, and bigger financial decisions
You almost always need solid bookkeeping first. Accounting (and tax prep) sits on top of it.
What a bookkeeper does
- Categorizes income and expenses
- Reconciles bank and credit cards
- Maintains the general ledger
- Delivers P&L and Balance Sheet on a monthly cadence
- Prepares a clean package for your tax preparer
That’s the work Mid South Bookkeeping focuses on — consistently, every month. See our monthly bookkeeping services.
What an accountant / CPA typically does
- Tax planning and tax returns
- Advisory on entity structure, deductions, and strategy
- Formal financial statements to higher standards when needed
- Representation with tax authorities when required
Your CPA does better work (and bills fewer cleanup hours) when the books are already reconciled.
What most small businesses should buy first
If your books are behind or inconsistent, buy bookkeeping. Fixed-price monthly bookkeeping from $249 gets you accurate records without a full-time hire. Add CPA tax services seasonally (or as retained advisory) once the foundation is solid.
Behind already? Start with catch-up bookkeeping, then stay on a monthly plan. Serving Memphis & West Tennessee.