Bookkeepers and accountants sometimes do the same work, but have a different skill set. In general, a bookkeeper's role is to record transactions and keep you financially organized, while accountants provide consultation, analysis, and are more qualified to advise on tax matters.

"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."

A Day in the Life of a Bookkeeper. Bookkeepers track all cash flows, billing, and lines of credit that affect their companies. They must be detail-oriented and tenacious; they have to track down and rectify any discrepancies, however small, in the company accounts.