"A bookkeeper records the financial transactions of an organization and takes care of day-to-day functions such as recording sales and invoices, paying bills and processing payroll," Stephens said. "Accountants take the financial data and analyze it to help organizations make financial decisions."

However, doing financing tasks yourself may do more harm than good. A bookkeeper can help a business owner manage day-to-day finances. These experts monitor cash flow from different accounts, bills and invoices and can organize your books to improve money management.