"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."

Bookkeeper work environment A bookkeeper will do most of their work during regular business hours while working at a desk. They will likely use a computer to enter records and update the company's finances.

A book keeper and an accountant has to record the transaction in the books of accounts while an auditor has to check and verify such transactions and accounts and send a report to the persons who appointed him.

How Much Time Accounting Takes. On average, small businesses that suit our client base usually take between 10-15 hours of bookkeeping each month. If they also handle their billing in-house, it can take up to 25 hours per month.