Depending on the size of a company, managing a company’s financial operations may take a staff of one, five, ten or more. In mid-sized to large companies, sometimes an entire accounting department, led by a chief financial officer and or a controller with a team of accountants, is necessary to account for the volume of transactions and manage the financial reporting of an entity’s operations. However, in most small businesses, especially start-up companies and sole proprietorships, a bookkeeper or an accountant may oversee the day-to-day financial operations.
Accountants and bookkeepers play a critical role in any business. While there may be some overlap in their duties, depending on the size of the company, the actual responsibility of each role varies.