Finance Director vs Bookkeeper vs Accountant - Who Does What?

If you're running an SME, you’ve likely worked with a bookkeeper or accountant – or both. But as your business grows, you may find you need something more: someone to help look ahead, not just report on the past. That’s where a Finance Director (FD) comes in.

Understanding who does what can help ensure you’ve got the right financial support in place – at the right level, and at the right time.

Bookkeeper: Keeping the Records Straight

A bookkeeper looks after your day-to-day financial admin. They record transactions, reconcile bank accounts, process invoices, and ensure your financial records are accurate and up to date. It’s essential work that keeps the wheels turning, but it’s focused on what’s already happened – not where you’re heading.

Accountant: Compliance and Year-End Reporting

Your accountant uses the records maintained by your bookkeeper to prepare statutory accounts, file tax returns, and keep you compliant. They’ll often offer advice on structure, VAT, payroll and corporation tax. Their role is also mostly retrospective – making sure everything is in order and deadlines are met.

Finance Director: Strategy, Insight, and Planning Ahead

A Finance Director helps you look forward. They work with you to understand what’s driving profit and cash, identify risks and opportunities, and support better decision-making through planning, budgeting, forecasting, scenario modelling and business cases.

In short:

• A bookkeeper records the numbers

• An accountant reports the numbers

• A Finance Director helps you use the numbers

At Ascott Financial Direction, I provide flexible, part-time FD support to SMEs – helping businesses get the strategic financial expertise they need, without the cost or commitment of hiring a full-time FD. Whether it’s a few days a month or support on a project basis, I work alongside you to bring clarity and direction to your financial strategy.

If your business is ready to take a more forward-looking approach, I’d be glad to have a conversation about how I can help.